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Partners Thomas and Elaine have agreed to share profits and losses in an 8 0 : 2 0 ratio respectively, after Thomas is allowed a

Partners Thomas and Elaine have agreed to share profits and losses in an

80

20

ratio respectively, after Thomas is allowed a salary

allowance of $

30600

and Elaine is allowed a salary allowance of $

15000 .

If the partnership had net income of $

30400

for

2020,

Elaine's

share of the income would be

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