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Alex, Baker and Carlton have operated a small hardware store for a number of years as a partnership. At the beginning of 2021, the capital

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Alex, Baker and Carlton have operated a small hardware store for a number of years as a partnership. At the beginning of 2021, the capital balances were as follows: Alex Baker Carlton $82,000 $62,000 $30,000 $6,000 Due to a cash shortage, Alex invests an additional in the business on April 1, 2021. Each partner withdraws just $700 cash each month. The partners have used the same method of allocating profits and losses since they started the business. -Each partner is given the following compensation for their work at the store: Alex $14,000 Baker $24,000 Carlton $4,000 20% -Each partner is credited with interest equal to of the average monthly capital balance for the year without regard for normal drawings. 3:2:5 Any remaining profit or loss is allocated to Alex, Baker and Carlton, respectively. The net income for 2021 is $24,000 Each partner withdraws the allotted amount each month. Prepare a schedule showing the distribution of 2021 net income to the partners following the method of allocating profits and losses used by the partners since they started the business

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