Bill and Bob share profits of their partnership in the ratio of 3​:1 respectively. If the net income of the firm is $ 26,000​, calculate​ Bill's share of net income. ​ (Do not round any intermediate​ calculations.

Answer:  The required share of Bill from net income is $19500. Step-by-step explanation:  Given that Bill and Bob share profits of their partnership in the ratio of 3​:1 respectively and the net income of the firm is $26,000.We are to find the Bill's share of net income.Let 3x and 1x represents the shares of net income of Bill and Bob respectively.Then, according to the given information, we have[tex]3x+1x=26000\\\\\Rightarrow 4x=26000\\\\\Rightarrow x=\dfrac{26000}{4}\\\\\Rightarrow x=6500.[/tex]Therefore, Bill's share of net income is given by[tex]3\times6500=19500.[/tex]Thus, the required share of Bill from net income is $19500.