Assume that the M & L partnership agreement gave March 60% and Ludwig 40% of partnership income and losses. The partnership lost $27,000 in the current period. This implies that March's share of the loss equals $16,200, and Ludwig's share equals $10,800.

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This calculation is based on the information given in the partnership agreement, which states that March is responsible for 60% of income and losses, while Ludwig is responsible for 40%. Therefore, March's share of the $27,000 loss is 60% x $27,000 = $16,200, and Ludwig's share is 40% x $27,000 = $10,800.

Assume That the M & L Partnership Agreement Gave March