10 Nov Kenny Lodge and Lisa Lane formed a partnership, di
Kenny Lodge and Lisa Lane formed a partnership, dividing income as follows:1. Annual salary allowance to Lodge of $54,000.2. Interest of 10% on each partner’s capital balance on January 1.3. Any remaining net income divided to Lodge and Lane, 2:1.Lodge and Lane had $100,000 and $200,000, respectively, in their January 1 capital balances.Net income for the year was $60,000.How much net income should be distributed to Lodge?
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