Brief Exercise 162 The Fig & Olive Co. reports net income of $24,000. Interest allowances are Fig $3,000 and Olive $5,000; partner salary allowances are Fig $18,000 and Olive $10,000 and the remainder is shared equally, Indicate the division of net income to each partner. (If an amount reduces the account balance then enter with a negative sign preceding the number e.g. -15,000 or parentheses e.g. (15,000).) Division of Net Income Fig Olive Total Salary allowance $ Interest allowance on partners' capital Total salaries and interest Remaining income Total division of net income Prepare the entry to distribute the net income. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit a 13 JJ A