(15). Essa Al Raisi and Kadir Al Mandhri have capital balances on January 1 of $40,000 and $70,000, respectively. The partnership income-sharing agreement provides for (1). annual salaries of $24,000 for Essa Al Raisi and $15,000 for Kadir Al Mandhri, (2). interest at 10% on beginning capital balances, and (3). remaining income or loss to be shared 60% by Essa Al Raisi and 40% by Kadir Al Mandhri. Instructions (a). Prepare a schedule showing the distribution of net income, assuming net income is (i). $60,000 and (ii). $42,000 (1 mark) (1 mark) (b). Journalize the allocation of net income in each of the situations above. (0.5 mark)