HW12 Q2

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Required information [The following information applies to the questions displayed below.] Ramer and Knox began a partnership by investing $60,000 and $90,000, respectively. During its first year, the partnership earned $185,000. Prepare calculations showing how the $185,000 income is allocated under each separate plan for sharing income and loss. 1. The partners did not agree on a plan, and therefore share income equally