Sox Corporation purchased a 35% interest in Hack Corporation for $1,950,000 on January 1, 2021. On November 1, 2021, Hack declared and paid $2.8 million in dividends. On December 31, Hack reported a net loss of $6.6 million for the year. What amount of loss should Sox report on its income statement for 2021 relative to its investment in Hack

Singer and mcmann are partners in a business. singer’s original capital was $40,000 and mcmann’s was $60,000. they agree to salaries of $12,000 and $18,000 for singer and mcmann respectively and 10% interest on original capital. if they agree to share remaining profits and losses on a 3: 2 ratio, what will mcmann’s share of the income be if the income for the year was $15,000?