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Walsh and Abraham began a partnership by investing 5 3 2 0 , 0 0 0 and $ 4 0 0 , 0 0 0

Walsh and Abraham began a partnership by investing 5320,000 and $400,000, respectively. They agreed to share net income/losses by allowing a 10% interest allowance on their investments, an annual salary allowance of $75,000 to Walsh and $150,000 to Abraham, and the balance will be split 1:3.Required: Calculate the income allocated to each partner assuming net income for the first year was $310,000.(Round your answers to the nearest whole dollar if applicable.) Show all of your calculations. 

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