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I don't know if these answers are correct; I'm having a hard time on the income-sharing ratio of 3:5. Could you please provide how you

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I don't know if these answers are correct; I'm having a hard time on the income-sharing ratio of 3:5. Could you please provide how you got the answers. Thank you

Dividing LLC Income Martin Farley and Ashley Clark formed a limited liability company with an operating agreement that provided a salary allowance of $68,000 and $54,000 to each member, respectively. In addition, the operating agreement specified an income-sharing ratio of 3:5. The two members withdrew amounts equal to their salary allowances. Revenues were $668,000 and expenses were $520,000, for a net income of $148,000. a. Determine the division of $148,000 net income for the year. Schedule of Division of Net Income Farley Clark Total Salary allowance 68,000 54,000 122,000 Remaining income 7,800 13.000 26.000 Net income 78.400 69,600 148.000

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