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Amna and Jalal formed a partnership on January 2, 2019. Jalat invested $120,000 in cash. Amna in indd $30,000 in addition, Amna was granted a

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Amna and Jalal formed a partnership on January 2, 2019. Jalat invested $120,000 in cash. Amna in indd $30,000 in addition, Amna was granted a yearly salary of $60,000 to manage the firm The partners wreed to the following profit and loss allocation formula 19:52 a. Interest-Each partner is to receive an interest of 8% on the original capital investment b. Salary-$60,000 to Amna c. Bonus - Amna is to be allocated a bonus of 20% of net income after subtracting the bonus, and wory d. The remaining profit is to be divided equally At the end of 2019, the partnership reported net income before interest, celaries, and bonus of $168,000 Instructions: Calculate the 2019 allocation of partnership profit Essay Toolbon navigation lil IM iii

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