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The partnership agreement of Alix, Gise, and Bosco provides for the following income ratio: (a) Alix, the managing partner, receives a salary allowance of $108300,
The partnership agreement of Alix, Gise, and Bosco provides for the following income ratio: (a) Alix, the managing partner, receives a salary allowance of $108300, (b) each partner receives 15% interest on average capital investment, and (c) remaining net income or loss is divided equally. The average capital investments for the year were: Alix $601000, Gise $1160000, and Bosco $1780000. If partnership net income is $540000, the amount distributed to Alix should be
$165300.
$177050.
$198450.
$90150.
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