Cleary, wasser, and nolan formed a partnership on january 1, 2017, and made capital contributions of $100,000 (cleary), $150,000 (wasser), and $200,000 (nolan), respectively. with respect to the division of income, they agreed to the following:
(1) interest of an amount equal to 10% of the that partner’s beginning capital balance for the year;
(2) annual compensation of $10,000 to wasser
(3) the remainder of the income or loss to be split among the partners in the following percentages:
(a) 20% for cleary
(b) 40% for wasser
(c) 40% for nolan. net income was $150,000 in 2017 and $180,000 in 2018. each partner withdrew $1,000 for personal use every month during 2017 and 2018.

Cardinal company is considering a project that would require a $2,725,000 investment in equipment with a useful life of five years. at the end of five years, the project would terminate and the equipment would be sold for its salvage value of $400,000. the company’s discount rate is 14%. the project would provide net operating income each year as follows: sales $2,867,000 variable expenses 1,125,000 contribution margin 1,742,000 fixed expenses: advertising, salaries, and other fixed out-of-pocket costs $706,000 depreciation 465,000 total fixed expenses 1,171,000 net operating income $571,000 1. which item(s) in the income statement shown above will not affect cash flows? (you may select more than one answer. single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. any boxes left with a question mark will be automatically graded as incorrect.) (a)sales (b)variable expenses (c) advertising, salaries, and other fixed out-of-pocket costs expenses (d) depreciation expense 2. what are the project’s annual net cash inflows? 3.what is the present value of the project’s annual net cash inflows? (use the appropriate table to determine the discount factor(s) and final answer to the nearest dollar amount.) 4.what is the present value of the equipment’s salvage value at the end of five years? (use the appropriate table to determine the discount factor(s) and final answer to the nearest dollar amount.) 5.what is the project’s net present value? (use the appropriate table to determine the discount factor(s) and final answer to the nearest dollar amount.)