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Sandy and Dave formed a law partnership, agreeing to split the income 50:50. The partnership had net income of $100,000. Dave withdrew $55,000 throughout the
Sandy and Dave formed a law partnership, agreeing to split the income 50:50. The partnership had net income of $100,000. Dave withdrew $55,000 throughout the year, and Sandy withdrew $50,000. Dave and Sandy had no other income. Because of the partnership activities, Dave's A.G.I. increased by
a. $100,000
b. $55,000
c. $50,000
d. $35,000
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