2 pages (500 words)
, Math Problem
O. Guillen (beginning capital, $60,000) and K.Williams (beginning capital ($90,000) are partners. During 2008, the partnership earned net income of $70,000, and Guillen made drawings of $18,000 while Williams made drawings of $24,000.
Assume the partnership income-sharing agreement calls for income to be divided 45% to Guillen and 55% to Williams.