1. Robert and kylie are in a partnership selling books and they share the Partnership...

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Accounting

1. Robert and kylie are in a partnership selling books and they share the Partnership net income equally. The Partnership made an operating profit of $98000 and received a fully franked dividend of $ 1400.

Required

Calculate the partnership income and indicate the tax implications for each of the partners. Assume that they have no other income or expenses.

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