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Partners Cantor and Dickens have capital balances in a partnership of $162000 and $238000, respectively. They agree to share profits and losses as follows: Cantor
Partners Cantor and Dickens have capital balances in a partnership of $162000 and $238000, respectively. They agree to share profits and losses as follows:
Cantor Dickens
As salaries $40800. $47400
As interest on capital at the beginning of the year 10%. 10%
Remaining profits or losses 50%. 50%
If income for the year was $197000, what will be the allocation of income to Dickens?
A. $80000
B. $40000
C. $91400
D. $105600
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