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show your work please! 4. Ken and Barbie started a partnership. Ken invested $30,000 in the business and Barbie invested $70,000. The partnership agreement stipulated
show your work please!
4. Ken and Barbie started a partnership. Ken invested $30,000 in the business and Barbie invested $70,000. The partnership agreement stipulated that profits would be divided as follows. Each partner would receive a 15% return on their invested capital. The remaining income will be distributed according to their share of the total investment in the partnership (percent of total amount invested). Assuming that the partnership earned $20,000 during an accounting period, the amount of income assigned to the two partners would be: Ken Barbie [10 PointsStep by Step Solution
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