Although Smith has a one-half equity interest in the net assets of the new firm of Phillips, Ryan, and Smith, he is not necessarily entitled to receive one-half of the profits.

• 尽管史密斯已获得新合伙企业--菲利普、雷安和史密斯合伙企业净资产中一半的产权,但这并不意味着他能分享一半的利润。