Fred and Dorothy operate an accounting firm as partners. on 1 March 2020, they admitted a new partner into their partnership. the terms of the agreement provided that the profits of the partnership be shared equally. The partnership's net income for the year ended 30 june 2020 was $200,000. assume that the net income of the partnership was spread equally over the 12 months.

Fred's wife, Jenny, is employed as a receptionist by the partnership from 1 july 2019 to 30 june 2020. Over the 12 months, she was paid $100,000. However, the Commissioner of Taxation disallowed $20,000. Calculate each partner's share of net income from the partnership and calculate the net income of the partnership for the year ended 30 june 2020.