Question: answer the following: Problem 4 C, P, and A agree to form a partnership and to share profits in the ratio of 5:3:2. They also

answer the following:

answer the following: Problem 4 C, P, and A agree to form

Problem 4 C, P, and A agree to form a partnership and to share profits in the ratio of 5:3:2. They also agreed that A is to be allowed a salary of P28,000, and that P is to be guaranteed P21,000 as his share of the profits. During the 1" year of operation, total revenue reached P180,000, while expenses totaled P96,000. What amount of net income should be credited to each partner's capital accounts? (10 points)

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