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Singer and McMann are partners in a business. Singer's original capital was $37,900 and McMann's was $58,900. They agree to salaries of $10,000 and $17,700
Singer and McMann are partners in a business. Singer's original capital was $37,900 and McMann's was $58,900. They agree to salaries of $10,000 and $17,700 for Singer and McMann, respectively, and 10% interest on original capital. If they agree to share the remaining profits and losses in a 3:2 ratio, what will Singer's share of the income be if the income for the year is $72,900?
a.$43,740
b.$10,000
c.$13,790
d.$35,102
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