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I have another question. I have tried this many times but still get the wrong answer. for 1. I get Abbott : -23,333 and Costello:

I have another question. I have tried this many times but still get the wrong answer. for 1. I get Abbott : -23,333 and Costello: - 11,667. Please help.

Louise Abbott and Buddie Costello are partners in a comedy club business. The partnership agreement specifies the manner in which income of the business is to be distributed. Louise is to receive a salary of $20,000 for managing the club. Buddie is to receive interest at the rate of 10% on her capital balance of $300,000. Remaining income is to be distributed at a 2-to-1 ratio.

Required:

Determine the amount that should be distributed to each partner assuming the following business net incomes:

Do not round intermediate calculations. Round your final answers to the nearest whole dollar. Indicate losses with a minus sign.

Income Level Abbott's Total Share Costello's Total Share
1. $15,000 $ $
2. $50,000 $ $
3. $80,000 $

$

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