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Fermer and Taylor formed a partnership with capital contributions of $290,000 and $340,000, respectively. Their partnership agreement calls for Farmer to receive a $88.000
Fermer and Taylor formed a partnership with capital contributions of $290,000 and $340,000, respectively. Their partnership agreement calls for Farmer to receive a $88.000 per year salary allowance. The remaining income or loss is to be divided equally. If the net income for the current year is $243,000, then Farmer and Taylor's respective shares of income are: iple Choice $6.500 $77500 $100:340 $44,810 $2,500 $1500 $202.000 $4100G $162.000 $1000
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