singer amp mcmann are partners in business. , Basic Statistics

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singer amp mcmann are partners in business.

Singer & Mcmann are partners in business. Singer''s original capital was $40,000 and Mcmann''s was $60.000. They agree to salaries of $12,000 and $18,00 respectively and 10% interest on original capital. If they agree to share remaining profits and losses on a 3:2 ratio, what will Mcmann''s share of the income be if the income for the year was $15,000.

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