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Rugged Sports Enterprises LP is organized as a limited partnership consisting of two individual partners: Hockey LP and Football LP. Both partners separately operate a
Rugged Sports Enterprises LP is organized as a limited partnership consisting of two individual partners: Hockey LP and Football LP. Both partners separately operate a minor league hockey team and a semipro football team.
Hockey LP | Football LP | Total | |||||||||
Balance at 6/30/2016 | $ | 317,000 | $ | 1,299,700 | $ | 1,616,700 | |||||
Annual net income | 49,412 | 1,012,946 | 1,062,358 | ||||||||
Cash distribution | (80,000 | ) | (80,000 | ) | |||||||
Balance at 6/30/2017 | $ | 366,412 | $ | 2,232,646 | $ | 2,599,058 | |||||
Compute partner return on equity for each limited partnership (and the total) for the year ended June 30, 2017, using the following selected data on partner capital balances from Rugged Sports Enterprises LP.
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