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Jimmy carter and Ray Lee are partners in the Kingslee Company. The partnership agreement provides for 1) salary allowances of $9,800 for jimmy and $8,000

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Jimmy carter and Ray Lee are partners in the Kingslee Company. The partnership agreement provides for 1) salary allowances of $9,800 for jimmy and $8,000 for Ray, 2) interest allowances of 15% on capital balances at the beginning of the year, and 3) the remaining income to be split so that jimmy earns 50% and Ray earns 50%. Beginning Capital balances were King $29,000 and Lee $27,000. The division of the 2003 partnership income of $24,000 Compute Jimmy carter shares(round to two decimal places, type the number only) 4 points Your answer Compute Ray lee shares(round to two decimal places.type the nunteer 4 points only YOUR swer 2 points Mr X., Mr.Y. and Mr. Z went through major partnership losses that forced them to decide on liquidation. They sold all their assets, paid all their liabilities and ended up with net Revenue of $170000 to be distributed among the 3 partners each according to their contribution. Mr. X contributed $60000, Mr. Y contributed $50000 and Mr. Z contributed $25000. How much will Mr. X receive? Your

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