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The partnership contract for Hanes and Jones LLP provides that Hanes is to receive a bonus of 20% of net income (after the bonus) and
The partnership contract for Hanes and Jones LLP provides that Hanes is to receive a bonus of 20% of net income (after the bonus) and that the remaining net income is to be divided equally. If the partnership income before the bonus for the year is $57,600, Hanes' share of this pre-bonus income is:
A. $28,800. B. $33,600. C. $34,560. D. $35,520. E. $38,400.
The answer is B, but I cannot understand the meaning of this multiple question. Could you please explain the question and explain how to calculate? Thank you!
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