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Marigold Company reports profit of $171900 for the year ended May 31, 2024. The partnership agreement specifies (1) salary allowances of $62900 for K. Susan
Marigold Company reports profit of $171900 for the year ended May 31, 2024. The partnership agreement specifies (1) salary allowances of $62900 for K. Susan and $49300 for M. Charles, (2) an interest allowance of 5% based on average capital account balances, and (3) sharing any remainder on a 60:40 basis ( 60% to Susan. 40% to Charles). Average capital account balances for the yea were $81500 for Susan and $62900 for Charles: How much is the profit remaining for allocation after salary and interest allowances? $59700$65779$52480$171900
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