CALCULATOR McGill and Smyth have capital balances on January 1 of $40,000 and $43,000, respectively. The partnership income-sharing agreement provides for (1) annual salaries of $20,000 for McGill and $10,000 for Smyth, (2) interest at 10% on beginning Capital balances, and (3) remaining income or loss to be shared 60% by McGill and 40% by Smyth FULL SCREEN BACK NEXT (1) Prepare a schedule showing the distribution of net income, assuming net income is $81,000. (If an amount reduces the account balance then enter with a negative sign preceding the number or parenthesis, e.g. -15,000, (15,000).) DIVISION OF NET INCOME McGill Smyth Total Salary allowance Interest allowance Total salaries and interest Remaining income / deficiency Total division of net income (2) Prepare a schedule showing the distribution of net income, assuming net income $24,000. (Iran amount reduces the account balance then enter with a negative sign preceding the number or parenthesis, e.g.-15,000, (18,000).) MacBook Du $ & 7 96 5 8 9 6 3 4