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Singer and McMann are partners in a business. Singer's original capital was $41,400 and McMann's was $51,800. They agree to salaries of $13,700 and
Singer and McMann are partners in a business. Singer's original capital was $41,400 and McMann's was $51,800. They agree to salaries of $13,700 and $19,800 for Singer and McMann, respectively, and 10% interest on original capital. If they agree to share the remaining profits and losses on a 3:2 ratio, what will McMann's share of the income be if the income for the year is $73,3007 a. $24,980 Ob. $37,172 c. $44,606 d. $19,800
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