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Fill in Correct answer: The partnership's net income for the first year is $50,000. Nancy's capital balance is $83,000 and Betty's capital balance is $11,000

Fill in Correct answer: The partnership's net income for the first year is $50,000. Nancy's capital balance is $83,000 and Betty's capital balance is $11,000 at the end of the year. Calculate the share of profit/loss to be allocated to Betty.

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