Question: Singer and McMann are partners in a business. Singers original capital was $40,000 and McManns was $60,000. They agree to salaries of $12,000 and $18,000

Singer and McMann are partners in a business. Singers original capital was $40,000 and McManns was $60,000. They agree to salaries of $12,000 and $18,000 for Singer and McMann, respectively, and 10% interest on original capital. If they agree to share the remaining profits and losses in a 3:2 ratio (3/5 to Singer and 2/5 to McMann), what will Singers share of the income (loss) be if the net loss for the year is $(10,000)?

a.$(10,000)

b.$(14,000)

c.$(6,000)

d.$(12,600)

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