Kim, Shu, and Celia, who had been friends since high school, have formed a partnership. Their business, Party Divas, takes orders for children's parties and then provides all the decorations to match the party theme, orders food, and contracts for entertainment for the party. Because they were in a hurry to get started and were old friends, they did not put their articles of partnership in writing, but instead relied on mutual trust. To get the business started, Kim contributed $$200,000$ to the business, Shu contributed $$40,000,$ and Celia contributed $$20,000.$ They discussed how profits and losses would be divided, but never came to a solid conclusion; therefore, Kim thought they would divide them according to the percentage of their contributions, but Shu and Celia thought they would be divided equally. Six months into operating the business, they had a disagreement about whether they should expand their business to include adult and corporate events. Kim wanted to expand. but Shu and Celia wanted to remain focused on children's parties. By the end of the first year, the women were so divided that Shu and Celia decided to quit working with Kim and open their own business. They demanded that the business be sold and their contributions returned to them. Which of the following statements is true about the division of profits and losses?The profits should be retained and invested.Profits and losses are always divided equally by partners.Profits and losses are always divided in the same proportion$/$percentage as the partners' contributions.Division of profits is not a concern for a profitable business.The division of profits and losses should always be spelled out in the articles of partnership.