A) If there is a profit, each partner is to receive 10% interest on their capital balance at year-end in excess of $50,000
Capital balances for each partner as of December 31st, 20X1 are as follows:
	Mo	$40,000		Larry	$60,000		Curley	$80,000
B) Mo & Larry are to receive salaries of $15,000 each; Curley is to receive a salary of $5,000 only if there is a profit
C) Larry is to receive a bonus of 20% of partnership profit if there is a profit
D) Any remaining profit or loss is to be allocated to Mo, Larry, & Curley in the ratio of 1:2:1 respectively

Prepare a distribution of income schedule for the partnership if there was a 20X1 net income of $20,000 by entering the proper amounts in the gray-shaded cells. If there is no amount to be entered in a particular cell, type the word "zero". Do not enter a "0". When correct, the cells will change color to a light green. Do not copy / copy & paste formulas!
			Mo		Larry		Curley		Total
Interest on Capital			zero		$1,000		$3,000		$4,000
Salaries			15,000		15,000		5,000		35,000
Bonus			zero		4,000		zero		4,000
Sub-Total			$15,000		$20,000		$8,000		$43,000
Remainder to be Allocated									(23,000)
Total									$20,000