Robin, Sharia and Tom are in partnership, sharing profits and losses in the ratio 3:2:1, respectively. The
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Robin, Sharia and Tom are in partnership, sharing profits and losses in the ratio 3:2:1, respectively. The partners have agreed that each partner should be entitled to interest on capital at 8 percent per annum. The partners' capitals are:
Calculate each partner's sham of the profit for the year ended 31 October 2014, when the partnership made a profit of $198 000.
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