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Part B: (6 marks) Ahmad, Hassan, and Fatima formed a partnership and agreed to share profits in a 3:1-2 ratio after recognition of 5% interest

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Part B: (6 marks) Ahmad, Hassan, and Fatima formed a partnership and agreed to share profits in a 3:1-2 ratio after recognition of 5% interest on average capital balances and monthly salary allowances of $3,750 to Hassan and $3,000 to Fatima Average capital balances were as follows: Ahmad Hassan Fatima 300,000 240,000 180,000 Instructions: Compute the net income (loss) allocated to each partner assuming the partnership incurred a $27,000 net loss

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