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Prepare the partnership''s income statement

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The partnership of Lewis and Clark had these balances at April 30, 2008:

Cash........$28,000

Liabilities........56,000

Clark Capital...14,000

Other Assests...84,000

Service Revenue....$196,000

Lewis, Capital....42,000

Total Expenses.....49,000

Lewis gets 70% of profits and losses, and clark gets 30%. Prepare the partnership's income statement for hte year ended April 30, 2008.

Reference no: EM13668354

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