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E12-7 Harper, Cheves, and Calderon have capital investments of $20,000, $30,000, and $50,000, respectively. The partners share profits and losses as follows: The first $40,000

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E12-7 Harper, Cheves, and Calderon have capital investments of $20,000, $30,000, and $50,000, respectively. The partners share profits and losses as follows: The first $40,000 is divided based on the partner's capital investments. The next $40,000 is based on service, shared equally by Harper and Cheves. The remainder is divided equally. Compute each partner's share of the $92,000 net income for the year. b HARPER CHEVES CALDERON TOTAL ho

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