On january 2 of the current year, calloway and taylor contribute cash equally to form the ct partnership. calloway and taylor share profits and losses in a ratio of 75% and 25%, respectively. the partnership's ordinary income for the year was $40,000. calloway received a distribution of $5,000 during the year. what is calloway's share of taxable income for the year?

Calloway's share is $30,000

Explanation:

Partnership income for the year:           $40,000

Share of Calloway (75%)                  $30,000

Share of Taylor (25%)                          $10,000

Partnership’s ordinary income is to be distributed among Calloway and Taylor in their respective profit and loss sharing ratios of 75% and 25%. Based on the above calculations, Calloway’s share of Taxable Income for the year is $30,000.

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answer; coefficient of correlation;