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If the partners agree on a formula to share income and say nothing about losses, then the losses are shared using the same formula.
Interest Expense
The cost incurred by an entity for borrowed funds, including loans, bonds, or lines of credit.
Tax Expense
The total amount of taxes a company incurs on its taxable income, including federal, state, and local taxes.
Net Operating Income
A financial metric that calculates a company's profit after all operating expenses are subtracted from total revenue.
Residual Income
The net income an investment generates above a minimum required return.
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