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Amna and Jalal formed a partnership on January 2, 2019. Jalal invested $120,000 in cash. Amno invested land valued ot $30,000. In addition, Amna was

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Amna and Jalal formed a partnership on January 2, 2019. Jalal invested $120,000 in cash. Amno invested land valued ot $30,000. In addition, Amna was granted a yearly salary of $60,000 to manage the firm. The parthers agreed to the following profit and loss allocation formula: a. Interest - Each partnet 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 salary. d. The remaining profit is to be divided equally. At the end of 2019, the partnership reported net incpme before interest, salaries, and bonus of $168,000. Instructions: Calculate the 2019 allocation of partnership profit

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