6. Sharp and Townson had capital balances of $60,000 and $90,000 respectively at the beginning of the current fiscal year. The articles of partnership provide for salary allowances of $25,000 and $30,000 respectively, an allowance of interest at 12% on the capital balances at the beginning of the year, with the remaining net income divided equally. Net income for the current year was $50,000 Required: a) Prepare a schedule showing how much net income should be distributed to Sharp and Townson. (20 points) b) Prepare the journal entry to record the income to the partner's accounts. (2 points)