Albert, Billy, and Cathy share profits and losses of their partnership as 2:5:3. If the net income is $50,000, calculate the profit share of Billy.

Name: Albert, Billy, and Cathy share profits and losses of their partnership as 2:5:3. If the net income is $50,000, calculate the profit share of Billy.
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Quizplus · Accepted Answer

Billy's share of the profit is calculated as 5/10 of the total net income, which is $50,000. Therefore, Billy's share is (5/10) * $50,000 = $25,000.

Albert, Billy, and Cathy Share Profits and Losses of Their