A partnership agreement specifies that profits will be shared in the ratio of 4:6:5. What percentage of

Question:

A agreement specifies that profits will be shared in the ratio of 4:6:5. What percentage of profits will each partner receive? Allocate a profit of $60,000 to each of the three partners.

Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...