4MACK NEXT I (a) Your answer is correct. Prepare a schedule showing the division of net income under assumption (3) above. (If an amount reduces the account balance then enter with a negative sign preceding the number e.g. -15,000 or parenthesis e.g. (15,000).) DIVISION OF NET INCOME Art Niensted Greg Bolen Krista Sayler Total Salary allowance 14960 14960 Interest allowance on capital 4290 3250 2700 10240 3250 25200 Total salaries and interest 2700 19250 -6300 -2100 Remaining excess/ deficiency -2100 -2100 600 18900 1150 17150 Total division of net income Debit Credit No. Account Titles and Explanation 1. 2. 3