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1. Albion and Blaze share profits and losses equally in their partnership. Their average capital balances for the year were $112,000 for Albion and $119,000 for Blaze. 2. Evans, Fitch, and Gault have a complex profit sharing agreement for their partnership. Their average capital balances were $300,000 for Evans, $250,000 for Fitch, and $325,000 for Gault. The net income for the year was $250,000. 3. After salary allocations, interest allocations, and bonuses are distributed, the residual profit is alloca

Author

leshz zyn

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EN