Slosky invested $60,000 and Karhut invested $80,000 in a partnership and agreed to share income and losses by allowing a $6,000 annual salary allowance to Slosky and an $1,000 annual salary allowance to Karhut.As well,each partner is to receive a share of profit equal to a 10% return on capital investments,and the balance is to be divided 1/3 to Slosky and 2/3 to Karhut.Under this agreement,what are the shares of the partners if the partnership income is $85,000?

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The Answer of Slosky invested $60,000 and Karhut invested $80,000 in a partnership and agreed to share income and losses by allowing a $6,000 annual salary allowance to Slosky and an $1,000 annual salary allowance to Karhut.As well,each partner is to receive a share of profit equal to a 10% return on capital investments,and the balance is to be divided 1/3 to Slosky and 2/3 to Karhut.Under this agreement,what are the shares of the partners if the partnership income is $85,000?

Slosky Invested $60,000 and Karhut Invested $80,000 in a Partnership