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    trice712 Posts: 1, Reputation: 1
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    Sep 29, 2011, 08:39 AM
    I really don't know how to appoarch this problem so I need help with this one
    Tracy and Dennis are partners in a business. Tracy's original capital contribution was $30,000, and Dennis's was $70,000. They agreed to share profits and losses as follows:









    Tracy


    Dennis











    As salaries


    $36,000


    $48,000



    As interest on original capital


    10%


    10%



    Remaining profits or losses


    2/3


    1/3








    Calculate each partner's share of profits and losses, assuming

    (a) the profit was $104,000,

    (b) the profit was $73,000

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