On October 1, 2024, Arnold, Brian, and Cory formed the A, B and C partnership. Arnold...

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On October 1, 2024, Arnold, Brian, and Cory formed the A, B and C partnership. Arnold contributed $25,200; Brian, $36,000; and Cory, $58,800. Arnold will manage the store; Brian will work in the store three-quarters of the time; and Cory will not work in the business. Read the requirements. Requirement 1. Compute the partners' shares of profits and losses under each of the following plans: a. Net loss for the year ended September 30, 2025, is $47,000, and the partnership agreement allocates 60% of profits to Arnold, 30% to Brian, and 10% to Cory. The agreement does not discuss the sharing of losses. (Use parentheses or a minus sign for loss amounts. Complete all answer boxes. For amounts that are $0, make sure to enter "0" in the appropriate cell.) a. Net income (loss) Capital allocation: Arnold Brian Cory Total capital allocation A, B and C Allocation of Profits and Losses Arnold Brian Cory Total Net income (loss) remaining for allocation Net income (loss) allocated to each partner b. Net income for the year ended September 30, 2025, is $94,000. The first $40,000 is allocated on the basis of relative partner capital balances. The next $30,000 is based on services, with $20,000 going to Arnold and $10,000 going to Brian. Any remainder is shared equally. (Complete all answer boxes. For amounts that are $0, make sure to enter "0" in the appropriate column.) A, B, and C On October 1, 2024, Arnold, Brian, and Cory formed the A, B and C partnership. Arnold contributed $25,200; Brian, $36,000; and Cory, $58,800. Arnold will manage the store; Brian will work in the store three-quarters of the time; and Cory will not work in the business. Read the requirements. Requirement 1. Compute the partners' shares of profits and losses under each of the following plans: a. Net loss for the year ended September 30, 2025, is $47,000, and the partnership agreement allocates 60% of profits to Arnold, 30% to Brian, and 10% to Cory. The agreement does not discuss the sharing of losses. (Use parentheses or a minus sign for loss amounts. Complete all answer boxes. For amounts that are $0, make sure to enter "0" in the appropriate cell.) a. Net income (loss) Capital allocation: Arnold Brian Cory Total capital allocation A, B and C Allocation of Profits and Losses Arnold Brian Cory Total Net income (loss) remaining for allocation Net income (loss) allocated to each partner b. Net income for the year ended September 30, 2025, is $94,000. The first $40,000 is allocated on the basis of relative partner capital balances. The next $30,000 is based on services, with $20,000 going to Arnold and $10,000 going to Brian. Any remainder is shared equally. (Complete all answer boxes. For amounts that are $0, make sure to enter "0" in the appropriate column.) A, B, and C