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QUESTION
Hunter, Folgers, and Tulip have been partners while sharing net income and loss in a 5:2 ratio.
Hunter, Folgers, and Tulip have been partners while sharing net income and loss in a 5:3:2 ratio. On January 31, the date Tulip retires from the partnership, the equities of the partners are Hunter, $320,000; Folgers, $224,000; and Tulip, $160,000.
