Kennedy's share of Hastie's net income for 2018 would be
A) $18,000.
B) $15,000.
C) $18,200.
D) $16,000.
E) $18,500.

Question

Quizplus · Accepted Answer

Kennedy's share of Hastie's net income can be calculated as follows: 
Kennedy's share = (Kennedy's investment / total investment) x net income 
= (120,000 / 360,000) x 54,600 (net income) 
= 18,200 
Therefore, Kennedy's share of Hastie's net income for 2018 would be $18,200.

Kennedy's Share of Hastie's Net Income for 2018 Would Be