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Susan Saita, Kait Squire, and Jarod Pegg have formed a partnership. Saita invested $108,000, Squire $139,500, and Pegg $202,500. Saita will manage the store,
Susan Saita, Kait Squire, and Jarod Pegg have formed a partnership. Saita invested $108,000, Squire $139,500, and Pegg $202,500. Saita will manage the store, Squire will work in the store three-quarters of the time, and Pegg will not work in the business. Required Requirement 1. Compute the partners' shares of profits and losses under each of the plans listed. a. Net loss is $72,500, and the partnership agreement allocates 45 percent of profits to Saita, 25 percent to Squire, and 30 percent to Pegg. The agreement does not discuss the sharing of losses. Complete the following table to calculate the allocation of net loss. (Use a minus sign or parentheses for net loss amounts. Complete all answer boxes. For amounts that are $0, make sure to enter "0" in the appropriate column.) Saita, Squire, and Pegg a. Total (net loss) Allocation to partners: Saita Squire Allocation of Profits and Losses Saita Squire Pegg Total Penn Enter any number in the edit fields and then click Check Answer.
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