Question: = I Normal T No Spac... Heading 1 Head Paragraph Page-5 3. Martin, Papgin, and Hull are partners who share income and loss in the

= I Normal T No Spac... Heading 1 Head Paragraph Page-5 3. Martin, Papgin, and Hull are partners who share income and loss in the ratio of 4:4:3 respectively. Hull is the only one who receives a salary; he gets $10 000 per year. All partners earn 10% interest on their capital account balances. These balances are as shown. Martin $20 000 Pappin 540 000 Hull $10 000 The net income for the year was $86 0DQ 1. Prepare a statement of distribution of net income for the year ended Dec1,20- [A-10) STATEMENT OF DISTRIBUTION OF NET INCOME

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