stion 4 1.5 points Save Answer Shelby and Mortonson formed a partnership with capital contributions of...

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stion 4 1.5 points Save Answer Shelby and Mortonson formed a partnership with capital contributions of $300,000 and $400,000, respectively. Their partnership agreement calls for Shelby to receive a $60,000 per year salary. Also, each partner is to receive an interest allowance equal to 10% of a partner's beginning capital Investments. The remaining income or loss is to be divided equally. If the net income for the current year is $135,000, then Shelby and Mortonson's respective shares are: O $57,857; $77,143. O $90,000; $40,000. O $92,500; $42,500. O $35,000; $100,000. stion 4 1.5 points Save Answer Shelby and Mortonson formed a partnership with capital contributions of $300,000 and $400,000, respectively. Their partnership agreement calls for Shelby to receive a $60,000 per year salary. Also, each partner is to receive an interest allowance equal to 10% of a partner's beginning capital Investments. The remaining income or loss is to be divided equally. If the net income for the current year is $135,000, then Shelby and Mortonson's respective shares are: O $57,857; $77,143. O $90,000; $40,000. O $92,500; $42,500. O $35,000; $100,000.