The partnership contract of Jones, King & Lane LLP provided for the division of net income or losses in the following manner:

1. Bonus of 20% of income before the bonus to Jones.
2. Interest at 15% on average capital account balances to each partner.
3. Residual income or loss equally to each partner.
Net income of Jones, King & Lane LLP for 2005 was $90,000, and the average capital account balances for that year were Jones, $100,000; King, $200,000; and Lane, $300,000.
Prepare a working paper to compute each partner’s share of the 2005 net income of Jones, King & Lane LLP.