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Barber and Atkins are partners in an accounting firm and share net income and loss...

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Accounting

Barber and Atkins are partners in an accounting firm and share net income and loss equally. Barber's beginning partnership capital balance for the current year is $214,000, and Atkins' beginning partnership capital balance for the current year is $391,000. The partnership had net income of $213,000 for the year. Barber withdrew $25,000 during the year and Atkins withdrew $20,000. What is Atkins's return on equity?

Multiple Choice

  • 24.5%

  • 27.2%

  • 22.3%

  • 30.8%

  • 12.3%

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