LLP CLASS WORK

Ms Fork and Mr Spoon are running a LLP firm and they share their profits and losses

equally. Their contributed capital was $$195,000$ and $$215,000$ respectively. Each of

them had an annual income $($other$)$ of $$115,000$ per year.

In Y$/$A $2022$ and $2023,$Mr Spoon had also rental income of $$92,000.$

The following are the adjusted profits$/($losses$)$ for: Y$/$A S$

Loss $$220,0002021-220,000$

Loss $$145,0002022-145,000$

Profit$$120,0002023150,000$

Determine the assessable income for each partner for Y$/$A $2021,2022$ and $2023.$