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Singer and McMann are partners in a business. Singer's original capital was $42,300 and McMann's was $54,600. They agree to salaries of $11,400 and
Singer and McMann are partners in a business. Singer's original capital was $42,300 and McMann's was $54,600. They agree to salaries of $11,400 and $17,600 for Singer and McHann, respectively, and 10% interest on original capital. If they agree to share the remaining profits and losses in a 3:2 ratio, what will Singers share of the income be if the income for the year is $75,000? Oa. $4,000 Ob. $37,416 Oc. $15.430 Od. $11,400
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