Dividing Partnership Net Loss Lynn Carpenter and Matthew Fredrick formed a partnership in which the partnership agreement provided for salary allowances of $48,000 and $42,000, respectively. Determine the division of a $24,000 net loss for the current year, assuming that remaining income or losses are shared equally by the two partners. Use the minus sign to indicate any deductions or deficiencies. Lynn Carpenter Matthew Fredrick Total Salary Allowance $ 48,000 $ 42,000 90,000 Remainder -66,000 x 66,000 X -66,000 X Net Loss 8,000 x 25,000 x 33,000 X Feedback Check My Work Apply salary allowances first; Then, distribute the remainder (income or loss) among the partners according to the partnership agreement