Stolton and Bright are partners in a business they started two years ago. The partnership agreement states that Stolton should receive a salary allowance of $$11,100$ and that Bright should receive a $$23,900$ salary allowance. Any remaining income or loss is to be shared equally.

Determine each partner$$s share of the current year$$s net income of $$56,000.$

Note: Enter all allowances as positive values. Enter losses, if any, as negative values.

Answer rating: 100% (QA)

To determine each partners share of the current years net income of 56000 we need to follow the part... View the full answer