SULUI PUgram Question 6 - Week 12 (11 marks) Richard is a retired solicitor. His wife Tracy is a retired school teacher. Both wish to remain active and they invest in a gift shop that is to be managed by their daughter Alice, who is aged 35. They form a partnership of three called "Alice's Gift Shop". Richard and Tracy contributed $40,000 each to fund the purchase of the shop. The partnership agreement provides . Both Richard and Tracy are to receive interest at the rate of 10% p.a. on their capital contribution of $40,000 Alice will receive a salary of $25,000 for the management of the shop, as well as superannuation contributions of $6,000. A car will be leased by the business and provided to Alice. All profits and losses are to be shared equally between the three partners. SULUI PUgram Question 6 - Week 12 (11 marks) Richard is a retired solicitor. His wife Tracy is a retired school teacher. Both wish to remain active and they invest in a gift shop that is to be managed by their daughter Alice, who is aged 35. They form a partnership of three called "Alice's Gift Shop". Richard and Tracy contributed $40,000 each to fund the purchase of the shop. The partnership agreement provides . Both Richard and Tracy are to receive interest at the rate of 10% p.a. on their capital contribution of $40,000 Alice will receive a salary of $25,000 for the management of the shop, as well as superannuation contributions of $6,000. A car will be leased by the business and provided to Alice. All profits and losses are to be shared equally between the three partners