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! Required information [ The following information applies to the questions displayed below. ] Ramer and Knox began a partnership by investing $ 6 0
Required information
The following information applies to the questions displayed below.
Ramer and Knox began a partnership by investing $ and $ respectively. During its first year, the partnership
earned $ Prepare calculations showing how the $ 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 $
Note: Do not round intermediate calculations.
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