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Question

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.

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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

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