Nan Ferdinand and Misti Morris have formed a partnership. During their first year of operations, the partnership earned $130,000. Their profit and loss sharing agreement states that , first , each partner will receive 5% of their capital balances. The second level is based on services, with $15,000 to Ferdinand and $10,000 to Morris. The remainder then will be shared 2.3 between Ferdinand and Morris respectively. Nan Ferdinand and Misti Morris have formed a partnership. During their first year of operations, the partnership earned $130,000. Their profit and loss sharing agreement states that , first , each partner will receive 5% of their capital balances. The second level is based on services, with $15,000 to Ferdinand and $10,000 to Morris. The remainder then will be shared 2.3 between Ferdinand and Morris respectively