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Price: 20,000 Waterhouse: 30,000 Coopers: 50,000 advisory service Revenues: 130,000 Auditing revenue: 165,000 Tax service revenues: 100,000 Salaries expense: 60,000 Adv expo: 55,000 Insurance exp:

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Price: 20,000 Waterhouse: 30,000 Coopers: 50,000 advisory service Revenues: 130,000 Auditing revenue: 165,000 Tax service revenues: 100,000 Salaries expense: 60,000 Adv expo: 55,000 Insurance exp: 32,000 Supplie exp: 31,000 Rent exp: 34,000 PRICE owner withdraw: 2,500 WATER HOUSE owner withdraw: 3,000 COOPERS owner withdraw: 2,000 Price, Waterhouse, and Coopers complete their first year of business as a partnership. The partners offer auditing, tax, and advisory services. Use the Tableau Dashboard to determine allocation of income. Owner Initial Investments Waterhouse Price Coopers Revenues Expenses $175,000 $150,000 Salaries expense $125.000 Supplies Revenues Expenses $175,000 $150,000 Salaries expense $125,000 Supplies expense $100,000 Advertising expense Insurance expense $75,000 $50,000 Rent expense $25,000 $0 Advisory service.. Auditing revenue Tax service.. Owner Withdrawals Price Waterhouse Coopers $0 $500 $1,000 $1,500 $2,000 $2,500 $3,000 1. Compute the partnership's net income. 2. Determine each partner's share of income assuming the partners did not agree on a plan and therefore share income equally. 1. Partnership net income Each partner's share of net income 2

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