1.A partnership comprised of two partners has the following information regarding income and loss allocation:

Partner #1Partner #2

Initial investment30,00040,000

Salary allowance25,00020,000

Interest allowance in initial investment10%10%allowance in initial investment10%10%

Remainder50%50%

In its first year of business, the partnership generates an income of 80,000.Please help create a schedule showing how much income should be allocated to each partner.