Steve,Martha,and Pete formed an LLC two years ago.As of today,Steve has contributed $100,000,Martha has contributed $50,000,and Pete has contributed $50,000 to the LLC.The LLC made a profit of $30,000 in two years.By default,how much will Steve's share of profits be?

A) $10,000
B) $20,000
C) $15,000
D) $30,000

Default

Failure to fulfill a legal obligation, especially failure to pay a debt on time.

Profit Share

This refers to a portion of a company's profits allocated to its employees, shareholders, or partners as a form of incentive or bonus.

LLC

Limited Liability Company; a business structure in the U.S. that combines the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation.