Any remaining income or loss is to be divided equally

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Reference no: EM131204890

Sage and Thyme are partners in the Music Company. Their partnership income sharing agreement provides that Sage and Thyme are to receive salary allowances of $118,800 and $67,200 respectively, and that any remaining income or loss is to be divided equally among all partners. If the company's net income was $166,000, Thyme's share would be:

Reference no: EM131204890

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