Allison (A) and Joe (1) start a new partnership. They must have been in Honer's Accounting class because they remembered to have a partnership agreement. The following are details of the partnership/s transactions AND the Net Income split/allocation 1. A and J had capital contributions of $150,000 and $180,000, respectively, to start the partnership. 2. Their partnership agreement called for to receive a $60,000 annual guaranteed payment (what the book calls a salary - which you know is not the correct term). 3.They also agreed to allow each partner an interest allowance equal to 10% of their initial capital investments. 4. The remaining income or loss is to be divided 60/40 to A and respectively. 5. A and J each got a partnership distribution of $50,000 at year end A. If the net income for the current year is $100,000, what are A and J's respective allocations of net income (2.25 pts) B. What is their capital account at year end (1.5 pt) C. If the net income for the current year is $80,000, what are A and J's respective allocations of net income (2.25 pts)