Use the following information to answer the question below
N
Net profit ————————-17,460
Capital account: Taiwo——–50,000
Obi———-40,000
Drawings Account: Taiwo—-12,000
Obi——-10,000
Salary – Obi———————1,500
Interest on capital————–5%
Interest on drawings———-4%
Profit sharing ratio is 3:2 for Taiwo and Obi respectively
Obi’s share of profit is—————
- 8,960
- 7,404
-
4,936
- 3,296