Bonus Agreement L06) On January 1, 2008, Tony and Jon formed T&J Personal Financial Planning wih capitaln- vestments of $480,000 and S340,000, respectively. The partners wanted to draf a profit and loss agreement that would reward each ndividual for the resources invested in the partner- ship. Accordingly, the partnership agreement provides that profits are to be allocated as follows: EXERCISE 15-5 1. Annual salaries of $42,000 and $66,000 are granted to Tony and Jon, respectively. 2. In addition to the salary, Jon is entitled to a bonus of 10% of net income after salaries and bonus but before interest on capital investments is subtracted. 3, Each partner is to receive an interest credit of 8% on the original capital investment. 4. Remaining profits are to be allocated 40% to Tony and 60% tojon. On December 31, 2008, the partnership reported net income before salaries, interest, and bonus of $188,000. Required: Calculate the 2008 allocation of partnership profit