Question: The ABS partnership reported $ 1 2 9 0 0 0 net profits in its first year of operations. Required a . If the partners

The ABS partnership reported $129000 net profits in its first year of operations. Required a. If the partners neglected to agree on the distribution of profits, how much should partners A, B and S receive? b. If the partners agreed to a $32000 per partner salary allowance, with any balance divided 3:2:1(A, B and S), how much profit will be distributed to each partner?

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