Required Information [The following information applies to the questions displayed below.] Mo, Lu, and Barb...
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Required Information [The following information applies to the questions displayed below.] Mo, Lu, and Barb formed the MLB Partnership by making Investments of $73,800,$287,000, and $459,200, respectively. They predict annual partnership net Income of $487,500 and are considering the following alternative plans of sharing Income and loss: (a) equally; (b) In the ratio of their Inltial capital Investments; or (c) salary allowances of $82,800 to Mo, $62,100 to Lu, and $93,500 to Barb; Interest allowances of 10% on their Initlal capltal Investments; and the remaining balance shared as follows: 20% to Mo, 40% to Lu, and 40% to Barb. equired: Use the table to show how to distrlbute net Income of $487,500 for the calendar year under each of the alternative plans being onsidered. (Do not round Intermedlate calculations.)
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