Sage and thyme are partners in the music company their, Financial Accounting

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Sage and thyme are partners in the music company their

Sage and Thyme are partners in the Music Company. Their partnership income sharing agreement provides that Sage and Thyme are to receive salary allowances of $118,800 and $67,200 respectively, and that any remaining income or loss is to be divided equally among all partners. If the company's net income was $166,000, Thyme's share would be:

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Financial Accounting: Sage and thyme are partners in the music company their

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