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per % , Sat 1:15 AM a D akeAssignmentMain.do?invoker.assignme | | a search Rodgers and Winter had capital balances of $60,000 and $90,000, respectively, at the beginning of the current fiscal year. The articles of partnership provide for salary allowances of S25.000 and $30,000, respectively; an allowance of interest at 12% on the capital balances at the beginning or the year equally. Net income for the current year was $110,000. a. Present the Division of net income section of the income statement for the current year Net income 110,000 Rodgers Winter Total Division of net income: Salary allowance Interest allowance Total Net income b. Assuming that the net income had been $65,000 instead of $110,000, present the Division of net income section of the income statement for the current year. Net income $65,000 RodgerS Winter Total Division of net income: Salary allowance Previous All work saved.

Solution

Part 1

Part 2

	Rodger	Winter	Total
Division of Net Income
salary Allowance	25000	30000	55000
Interet Allowance	7200	10800	18000
Total	32200	40800	73000
Net Income Shared equally	18500	18500	37000
Net income	50700	59300	110000