Why xd, you are solely fesponsble for vost attondi) the Deputment) arked above in full, Eram paper WITi No sictaturat will be imalid. mit.20 minutes 5OBULAR (QUESTIONS) Pike, Quini, and Reed are forming a parthnership On Mareli 31 of the current year, the capital secotiats of the three existing purtaers and their shares of profits and losses are as follows: Requirements A partnenhip reports net income of $70,000. The partnership agreeneat has defined an income tharing ratio, which provides for salarits of 515.000 to Pike and $10,000 to Quinn. Any remaining Profit is allocated based on profit and loss ratio. What division of penfies woald you recommend to Pice, Quinn and Redd? (30p)