Frazier and Roz Are Partners

Essay

Frazier and Roz are partners.Frazier contributes $30,000 to the partnership,and Roz contributes $10,000.They agree that Frazier will assume 70 percent of partnership losses and that Roz will assume 30 percent.They make no agreement about how to share profits.The partnership has a profit of $60,000 in its first year.How much of the profits is Frazier entitled to receive?