Partners Gary and Elaine Have Agreed to Share Profits and Losses

Multiple Choice

Partners Gary and Elaine have agreed to share profits and losses in an 80:20 ratio respectively after Gary is allowed a salary allowance of $30000 and Elaine is allowed a salary allowance of $15000. If the partnership had net income of $30000 for 2017 Elaine's share of the income would be

A) $15000.
B) $12000.
C) $18000.
D) $3000.