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Singer and McMann are partners in a business. Singer's original capital was $35,000 and McMann's was $52,300. They agree to salaries of $12,700 and $19,700
Singer and McMann are partners in a business. Singer's original capital was $35,000 and McMann's was $52,300. They agree to salaries of $12,700 and $19,700 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 $59,800? Oa. $19,700 Ob. $38,878 xc. $24,930 Od. $32,398
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