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2-Quiz i 1 Stolton and Bright are partners in a business they started two years ago. The partnership agreement states that Stolton should receive
2-Quiz i 1 Stolton and Bright are partners in a business they started two years ago. The partnership agreement states that Stolton should receive a salary allowance of $11,700 and that Bright should receive a $24,600 salary allowance. Any remaining income or loss is to be shared equally. Determine each partner's share of the current year's net income of $56,200. Note: Enter all allowances as positive values. Enter losses, if any, as negative values. Allocation of Partnership Income 00:47:09 Net income Salary allowances Balance of income Balance allocated equally Balance of income Shares of the partners Stolton Bright Total 56,200 0 0 0
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