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Determine the salary allowance

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Blossom Co. reports net income of $73,000. Partner salary allowances are Pitts $15,000, Filbert $7,000, and Witten $3,000. Indicate the division of net income to each partner, assuming the income ratio is 56 : 24 : 20, respectively.

Question 1: Determine the Salary allowance:

  1. Remaining income
  2. Total division of net income

Reference no: EM132477355

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