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Required information Skip to question [ The following information applies to the questions displayed below. ] Ramer and Knox began a partnership by investing $

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Ramer and Knox began a partnership by investing $78,000 and $117,000, respectively. During its first year, the partnership earned $230,000. Prepare calculations showing how the $230,000 income is allocated under each separate plan for sharing income and loss.The partners agreed to share income and loss in proportion to their initial investments. Net income is $230,000.
Note: Do not round intermediate calculations.
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