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# Partners Conner, Tuitt, and Heyward share profits and losses in a 3:4:5 ratio, respectively.  Their average capital...

 Partners Conner, Tuitt, and Heyward share profits and losses in a 3:4:5 ratio, respectively.  Their average capital balances for the quarter year were \$50,000, \$70,000, and \$80,000, respectively. Conner and Heyward each receive a “salary” of \$8,000 each quarter due to their years of experience in the field.  All three partners receive 5% interest on their average capital balance.  The net income for this quarter was \$25,100. Prepare a schedule that shows the distribution of the net income to the partners.

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