Wayne owns a 30% interest in the capital and profits of emerald company (a calendar year partnership). for tax year 2019, the partnership earned revenue of $900,000 and had operating expenses of $660,000. during the year, wayne withdrew from the partnership a total of $90,000. he also invested an additional $30,000 in the partnership. for 2019, wayne's gross income from the partnership is:

$72,000

Explanation:

Given that,

Partnership earned revenue = $900,000

Operating expenses = $660,000

Withdrawal by Wayne = $90,000

Additional investment by Wayne = $30,000

Wayne's gross income from the partnership is:

= Tax rate × (Earned revenue - Operating expenses)

= 30% × ( $900,000 - $660,000)

= 0.3 × $240,000

= $72,000

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know

answer; sales of books;