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Find what lauren and jenna respective shares are

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Question 1: Lauren and Jenna formed a partnership with capital contributions with a fair value of $145,000 and $125,000, respectively. Their partnership agreement calls for Lauren to receive a $10,000 annual salary allowance. Also, each partner is to receive a share of earnings equal to a 5% return on capital investments. The remaining income or loss is to be divided equally. If the profit for the year is $148,000, then Lauren and Jenna's respective shares are

Reference no: EM132635554

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