Answer:
The answer is: $60,000
Explanation:
Since we are given the total revenue and total expenses for this partnership, we can elaborate the following income statement:
Total revenue $100,000
Total expenses
Mitch's salary $20,000
Alam's salary $40,000
($60,000)
Net income $40,000
Their partnership agreement stated that all net income should be divided equally between both partners, so Mitch will receive $20,000 and Alam $20,000.
Alam's total income = $40,000 + $20,000 = $60,000
