Dowd, Elgar, Frost, and Grant formed a general partnership. Their written partnership agreement provided that the profits would be divided so that Dowd would receive 40%; Edgar, 30%; Frost, 20%; and Grant, 10%.
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Consider the following income statement for Kroger Inc. (all figures in $ Millions): Year 2006 2005 2004 Total Sales 60,553 56,434 53,791 Cost of goods sold 45,565 42,140 39,637 Selling, general & admin expenses 11,688 12,191 11,575 Depreciation
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