Question: Antonio and Michaela are equal partners in A&M Booking Services. Antonio manages the business and receives $40,000 per year for his management services. He and

Antonio and Michaela are equal partners in A&M Booking Services. Antonio manages the business and receives $40,000 per year for his management services. He and Michaela each withdraw $30,000 in cash during the current year. A&M's ordinary income is $80,000 before considering any payments to the partners. How much income do Michaela and Antonio have from A&M during the current year?

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