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How much net income should be distributed to Dakota

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Reference no: EM133080629

Question - Emerson and Dakota formed a partnership dividing income as follows:

1. Annual salary allowance to Emerson of $37,600.

2. Interest of 10% on each partner's capital balance on January 1.

3. Any remaining net income divided equally.

Emerson and Dakota had $25,200 and $133,200, respectively, in their January 1 capital balances. Net income for the year was $214,800. How much net income should be distributed to Dakota?

Reference no: EM133080629

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