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Partners Gary and Elaine have agreed to share profits and losses in an 80:20 ratio respectively, after Gary is allowed a salary allowance of $29300

Partners Gary and Elaine have agreed to share profits and losses in an 80:20 ratio respectively, after Gary is allowed a salary allowance of $29300 and Elaine is allowed a salary allowance of $14500. If the partnership had net income of $30100 for 2020, Elaines share of the income would be

$11760.

$2100.

$18340.

$13700.

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