Question: ABC Partnership is a general partnership and was started by Partners A, B, and C in Year 1. The written partnership agreement is silent as

ABC Partnership is a general partnership and was started by Partners A, B, and C in Year 1. The written partnership agreement is silent as to how the partners share in profits and losses. Partner A has capital contributions of $40,000, Partner B has capital contributions of $30,000, and Partner C has capital contributions of $30,000. Year 1s profit is $150,000. How much of the profit is Partner A entitled to?

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