Megan West and Jon Sokolov formed a partnership in which the partnership agreement provided for salary allowances

Question:

Megan West and Jon Sokolov formed a in which the agreement provided for salary allowances of $45,000 and $35,000, respectively. Determine the division of a $40,000 net loss for the current year, assuming remaining income or losses are shared equally by the two 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...