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Chris & Josh Co. reports net income of $41,100. The partnership agreement provides for annual salaries of $24,200 for Chris and $16,900 for Josh and
Chris & Josh Co. reports net income of $41,100. The partnership agreement provides for annual salaries of $24,200 for Chris and $16,900 for Josh and interest allowances of $4,200 to Chris and $5,500 to Josh. Any remaining income or loss is to be shared 80% by Chris and 20% by Josh. Compute the amount of net income distributed to each partner. (If an amount reduces the account balance then enter with a negative sign preceding the number e.g. -15,000 or
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