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Partners Paul and Alex have agreed to share profits and losses in an 80:20 ratio respectively, after Paul is allowed a salary allowance of $70900

Partners Paul and Alex have agreed to share profits and losses in an 80:20 ratio respectively, after Paul is allowed a salary allowance of $70900 and Alex is allowed a salary allowance of $34400. If the partnership had net income of $69000 for 2020, Alex's share of the income would be

$6920
$27140
$41520
$34600

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