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Question
Fillmore, Willis, and Polk form a partnership. Fillmore's capital contribution to the firm is $10,000. Willis and Polk contribute $5,000 each. The parties make no express agreement concerning how profits are to be divided, but they agree to share losses as follows: Fillmore, 40%, Willis and Polk, 30% each. During the partnership's first year, the business has a profit of $30,000. What is Fillmore's share of the profit?
A. $7,500
B. $9,000
C. $10,000
D. $12,000
Answer
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