(2) Prepare a schedule showing the distribution of net income, assuming net income is $26,000. (If an amount reduces the account balance then enter with a negative sign preceding the number or parenthesis, e.g.-15,000, (15,000).) DIVISION OF NET INCOME McGill Smyth Total Salary allowance 22,000 18,000 40,000 Interest allowance 4,800 3000 7800 Total salaries and interest 26800 21000 47800 X X Remaining income / deficiency 15,260 6,540 21,800 Total division of net income 11540 14460 26000