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Crane Co. reports net income of $55,000. Partner salary allowances are Pitts $16,000, Filbert $4,000, and Witten $5,000. Indicate the division of net income to

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Crane Co. reports net income of $55,000. Partner salary allowances are Pitts $16,000, Filbert $4,000, and Witten $5,000. Indicate the division of net income to each partner, assuming the income ratio is 50:24:26, respectively, Division of Net Income Filbert Pitts Witten Total Salary allowance $ Remaining Income Total division of net income $

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