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WHAT IS THE NET PROFIT OF THE JOINT OPERATION AFTER THE FEE TO DIRK. The following Investment in Joint Operation account reflects the transactions of

WHAT IS THE NET PROFIT OF THE JOINT OPERATION AFTER THE FEE TO DIRK.

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The following Investment in Joint Operation account reflects the transactions of the joint operation of Greg, Oro and Con as recorded by Greg: INVESTMENT IN JOINT OPERATION 2011 2011 11/6 Mdse. - Con P85,000 11/20 Cash sales Greg P204,000 11/8 Mdse. - Oro 70,000 12/12 Cash sales Greg 42,000 11/10 Freight - Greg 2,000 12/28 Mdse. - Oro 12,100 11/12 Advert. - Greg 1,500 12/8 Purchreg 35,000 12/14 Exp. - Greg 4,000 The joint operation agreement provided for the division of gains and losses among Greg, Oro and Con in the ratio 5:3:2, respectively. The joint operation was to close as of December 31, 2011. The total share of Oro in the Joint operation amount to

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