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on Help Pacheco and Wrester have formed a partnership. During their first year of operations, the partnership eamed $140,000. Their-profit-and-loss-sharing agreement states that first, each

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on Help Pacheco and Wrester have formed a partnership. During their first year of operations, the partnership eamed $140,000. Their-profit-and-loss-sharing agreement states that first, each partner will receive 12% of their capital balances. The second level is based on services, with $16,000 to Pacheco and $25,000 to Wrester. The remainder then will be shared 1:4 between Pacheco and Wrester, respectively, Read the requirements Requirement 1. Calculate the amount of income each partner will receive under their profit-and-loss-sharing agreement assuming Pacheco's capital balance is $91,000 and Wrester's capital balance is $91,000. (Complete all answer boxes, For amounts that are $0, make sure to enter "0" in the appropriate column.). Pacheco Wrester Total Net income (loss) Capital allocation: Pacheco Wrester Salary allowance: Pacheco Wrester Total salary and capital allocation Net income (loss) remaining for allocation Share of remainder: Pacheco Wrester Total allocation TOI | DT Net Income (loss) remaining for allocation Net Income loss) allocated to the partners

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