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Question
Gillie, Taft, and Dall are partners in an architectural firm. The partnership agreement is silent about the payment of salaries and the division of profits and losses. Gillie works full-time in the firm, and Taft and Dall each work half-time. Taft invested $120,000 in the firm, and Gillie and Dall invested $60,000 each. Dall is responsible for bringing in 50 percent of the business, and Gillie and Taft 25 percent each. How should profits of $120,000 for the year be divided?
A. Gillie $60,000, Taft $30,000, Dall $30,000
B. Gillie $40,000, Taft, $40,000, Dall $40,000
C. Gillie $30,000, Taft $60,000, Dall $30,000
D. Gillie $30,000, Taft $30,000, Dall $60,000
Answer
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