Albert,Billy,and Cathy share profits and losses of their partnership in a 1:6:3,ratio respectively.If the net income is $60,000,calculate Billy's share of the profits.(Do not round any intermediate calculations.)

Name: Albert,Billy,and Cathy share profits and losses of their partnership in a 1:6:3,ratio respectively.If the net income is $60,000,calculate Billy's share of the profits.(Do not round any intermediate calculations.)
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Billy's share of profits = $60,000 × 6 / (1 + 6 + 3) = $36,000

Albert,Billy,and Cathy Share Profits and Losses of Their Partnership in a 1:6:3,ratio