During the current year, Marsha Engles withdrew $4,000 monthly from the partnership of Engles and Cox Water

Question:

During the current year, Marsha Engles withdrew $4,000 monthly from the of Engles and Cox Water Management Consultants. Is it possible that her share of net income for the current year might be more or less than $48,000? Explain.

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...