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The statement of members' equity for Bonanza, LLC, follows: Bonanza, LLC Statement of Members' Equity For the Years Ended December 31, 2016 and 2017 Idaho
The statement of members' equity for Bonanza, LLC, follows:
Bonanza, LLC | ||||||||
Statement of Members' Equity | ||||||||
For the Years Ended December 31, 2016 and 2017 | ||||||||
Idaho Properties, LLC, Member Equity | Silver Streams, LLC, Member Equity | Thomas Dunn, Member Equity | Total Members' Equity | |||||
Members' equity, January 1, 2016 | $273,000 | $307,000 | $580,000 | |||||
Net income | 57,000 | 133,000 | 190,000 | |||||
Members' equity, December 31, 2016 | $330,000 | $440,000 | $770,000 | |||||
Dunn contribution, January 1, 2017 | 3,000 | 7,000 | $220,000 | 230,000 | ||||
Net income | 62,500 | 137,500 | 50,000 | 250,000 | ||||
Less member withdrawals | (32,000) | (48,000) | (40,000) | (120,000) | ||||
Members' equity, December 31, 2017 | $363,500 | $536,500 | $230,000 | $1,130,000 |
a. What was the income-sharing ratio in 2016? Enter the percentage per member and then select the ratio.
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