The partnership contract for hanes and jones llp provides that hanes is to receive a bonus of 20% of net income (after the bonus) and that the remaining net income is to be divided equally. if the partnership income before the bonus for the year is $57,600, hanes’ share of this pre-bonus income is:
a. $28,800.
b. $33,600.
c. $34,560.
d. $35,520.
e. $38,40

share of pre bonus income = $33600

so correct option is B. $33,600

Explanation:

given data

receive  bonus = 20% of net income

partnership income before the bonus = $57,600

to find out

share of pre bonus income

solution

we know that  share of pre bonus income will be here as

share of pre bonus income = Bonus + Share of remaining net income  ..............1

put here value we get

share of pre bonus income =  

solve it we get

share of pre bonus income = $33600

so correct option is B. $33,600

answer; a large down payment,a longer term loan, would result in a lower monthly payment;

c

explanation: