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Partners Eli and Alex have agreed to share profits and losses in an 80:20 ratio respectively, after Eli is allowed a salary allowance of $70100

Partners Eli and Alex have agreed to share profits and losses in an 80:20 ratio respectively, after Eli is allowed a salary allowance of $70100 and Alex is allowed a salary allowance of $34000. If the partnership had net income of $71000 for 2020, Alexs share of the income would be A $44400. B $7400. C $37000. D $27380

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