Question 9 (4 points) Lydia, James, and Lola's partnership calls for the following allocation of income: James and Lola are to receive lump sum salary payments of $25,000 each, Lydia and Lola are to receive interest of 5% of their ending capital balances, if there's a profit James is to receive a bonus equal to 10% of the profit, and any remaining income is to be split between Lydia, James, and Lola 40%, 20%, and 40% respectively. Lydia, James, and Lola's ending capital balances were $100,000, $50,000, and $150,000 respectively. If there was a partnership net profit of $400,000, how much was allocated to James in total? a) $124,500 b) $124,000 c) $65,000 d) $ 151,500 Question 10 (4 points) All of the following are purposes of government financial reporting except: a) Compare actual results with the budget b) Determine the overall profitability of the government entity c) Evaluate efficiency and effectiveness d) Determine compliance with laws and regulations