Luke and John share income and losses in a 2:1 ratio after allowing for salaries of $48,000 to Luke and $60,000 to John. Net income for the partnership is $93,000. Income should be divided as
A) Luke, $46,500; John, $46,500
B) Luke, $55,000; John, $38,000
C) Luke, $65,000; John, $28,000
D) Luke, $38,000; John, $55,000
Correct Answer:
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