Alford, Beeson, and Carlton have operated a coffee shop for a number of years as a partnership. At the beginning of $2024,$ capital

balances were as follows:

Alford $$84,000$

Beeson $64,000$

Carlton $20,000$

Due to a cash shortage, Alford invests an additional $$10,000$ in the businessgdd on April $1,2024.$

Each partner is allowed to withdraw $$800$ cash each month.

The partners have used the same method of allocating profits and losses since the business's inception:

Each partner is given the following compensation allowance for work done in the business: Alford, $$15,000$; Beeson, $$25,000$; and

Carlton, $$8,000.$

Each partner is credited with interest equal to $20$ percent of the average monthly capital balance for the year without regard for

normal drawings.

Any remaining profit or loss is allocated $5$:$2$:$3$ to Alford, Beeson, and Carlton, respectively. The net income for $2024$ is $$26,000.$

Each partner withdraws the allotted amount each month.

Required:

Prepare a schedule showing calculations for the partners' $2024$ ending capital balances.

Note: Amounts to be deducted should be indicated with minus sign.

Please help me figure out how to find the net income. Thank You!