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: 9/1 C. Eastwood, Capital 8,600 1/1 5/1 30,800 7,200 3/1 A. North, Capital 10,000 1/1 7/1 41,700 6,800 5,100 9/1 8/1 M. West, Capital 13,400 1/1 4/1 6/1 51,200 8,000 4,100 Required: For each of the following independent income-sharing agreements, prepare an income distribution schedule. a. Salaries are $15,900 to Eastwood, $20,500 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 $80,430. (Amounts that are to be deducted from an individual partner's capital balance should be entered with a minus sign.) Required: For each of the following independent income-sharing agreements, prepare an income distribution schedule. a Salaries are $15,900 to Eastwood, $20,500 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 $80,430. (Amounts that are to be deducted from an individual partner's capital balance should be entered with a minus sign.) Eastwood North West Total Profit ratio 0 Ending capital Net income Salary 0 Bonus 0 0 Interest on ending capital balance Residual income (deficit) $ 0 Allocate 0 Total $ EA 0 $ 0 $ 0 $ 0 b interest is 10 percent of weighted average capital balances. Salaries are $25,000 to Eastwood, $21.900 to North and $25,600 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 $70,300. (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.) Eastwood North West Total Profit fatio 0 Average capital Net income 0 Interest on average capital balance Salary Bonus 0 0 Residual income (deficit) 3 0 Allocate 0 Total S 0 S 0 $ 0 $ 0 c. West receives a bonus of 20 percent of net income after deducting the bonus and the salaries. Salaries are $21,700 to Eastwood, $19,000 to North, and $15,500 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 $94,960. (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.) Eastwood North West Total Profit ratio 0 Beginning capital Net income Bonus 0 0 Salary Interest on beginning capital balance Residual income (deficit) Allocate 0 $ 0 0 0 Total $ 0 $ 0 $ 0 $ 0