3. Jones and Thompson form a partnership and agree to allocate income equally after recognition of 10% interest on beginning capital balances and monthly salary allowances of $2,000 to Jones and $1,500 to Thompson. Capital balances on January I were as follows: Jones $40,000 Thompson $30,000 Calculate the net income (loss) allocation to each partner under each of the following independent situations. a. Net income for the year is $99,500. b. Net income for the year is $38, 300. 0 1 c. Net loss for the year is ($15,100). 4 6 7 8 9 -0