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Part I Bick and Cook began a partnership by investing $15,000and $10,000, respectively, and during its first year the partnership earned a $21,000 net income.

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Part I Bick and Cook began a partnership by investing $15,000and $10,000, respectively, and during its first year the partnership earned a $21,000 net income. Required: Complete the tabulation below to show under the several assumptions the share of each partner in the $21,000 net income. Bick's Share Cook's Share 1. 2. The partners failed to agree as to the method of sharing The partners had agreed to share in their beginning of the year investment ratio The partners had agreed to share by giving a $7,200 per year salary allowance to Bick and a $9,000 per year salary allow- ance to Cook, plus 8% interest on their beginning of the year investments, and the remainder equally ..............S 3

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