C. Eastwood, A. North, and M. West are manufacturers' representatives in the architecture business. Their capital accounts in the ENW partnership for 20X1 were as follows:

C. Eastwood, Capital

9/1 9,900 1/1 30,100

5/1 6,100

A. North, Capital

3/1 10,500 1/1 41,800

7/1 6,800

9/1 5,100

M. West, Capital

8/1 13,800 1/1 50,600

4/1 7,800

6/1 5,000

Required:

For each of the following independent income-sharing agreements, is needed an income distribution schedule.

a. Salaries are $16,800 to Eastwood, $21,800 to North, and $18,400 to West. Eastwood receives a bonus of 5 percent of net income after deducting his bonus. Interest is 10 percent of ending capital balances. Eastwood, North, and West divide any remainder in a 3:3:4 ratio, respectively. Net income was $78,960. (Amounts that are to be deducted from an individual partner's capital balance should be entered with a minus sign.)

b. Interest is 10 percent of weighted-average capital balances. Salaries are $25,100 to Eastwood, $22,300 to North, and $25,200 to West. North receives a bonus of 10 percent of net income after deducting the bonus and her salary. Any remainder is divided equally. Net income was $69,490. (Do not round intermediate calculations. Round the final answers to nearest whole dollar. Amounts that are to be deducted from an individual partner's capital balance should be entered with a minus sign.)

c. West receives a bonus of 20 percent of net income after deducting the bonus and the salaries. Salaries are $21,300 to Eastwood, $18,400 to North, and $16,300 to West. Interest is 10 percent of beginning capital balances. Eastwood, North, and West divide any remainder in an 8:7:5 ratio, respectively. Net income was $95,480. (Do not round intermediate calculations. Amounts that are to be deducted from an individual partner's capital balance should be entered with a minus sign.)