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Required information [The following information applies to the questions displayed below.) Ramer and Knox began a partnership by investing $58,000 and $87,000, respectively. During its

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Required information [The following information applies to the questions displayed below.) Ramer and Knox began a partnership by investing $58,000 and $87,000, respectively. During its first year, the partnership earned $180,000. Prepare calculations showing how the $180,000 income is allocated under each separate plan for sharing income and loss. 1. The partners did not agree on a plan, and therefore share income equally, Ramer Knox

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