Albert,Billy,and Cathy share profits and losses of their partnership as 1:4:3,respectively.If the net income is $30,000,calculate Albert's share of the profits.(Do not round any intermediate calculations.)

Name: Albert,Billy,and Cathy share profits and losses of their partnership as 1:4:3,respectively.If the net income is $30,000,calculate Albert's share of the profits.(Do not round any intermediate calculations.)
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Albert's share of profits = $30,000 × 1 / (1 + 4 + 3) = $3750

Albert,Billy,and Cathy Share Profits and Losses of Their Partnership as 1:4:3,respectively.If