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Rick & Morty conduct business as partners operating a toy store. Their partnership agreement specifies that all profits and losses are to be distributed equally

Rick & Morty conduct business as partners operating a toy store. Their partnership agreement specifies that all profits and losses are to be distributed equally after partners salaries. During the 2023 income, the business calculated the following results: Accounting loss (after partner salaries) $30,000 Salary paid to Rick $80,000.


Calculate Rick's share of partnership net income or loss for the 2023 income year.  

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