Financial Statement Impact The partnership of Heckyl and Jeckyl began operations on January 1 of the current year. The partnership agreement provides for the following division of income: 1. Monthly Salary Allowance Heckyl $12,000 Jeckyl $13,000 2. Interest of 6% on each partners January 1 Capital balance. Capital, Heckyl, January 1 $400,000 Capital, Jeckyl, January 1 $260,000 Click here and use the sliders to select the profit and loss sharing ratio and partnership net income to answer the following questions: 1. The partnership net income for the first year is $500,000, and Heckyl and Jeckyl distribute any remaining net income in the following ratio: 40% to Heckyl, 60% to Jeckyl. a. How much net income should be distributed to Heckyl? b. How much net income should be distributed to Jeckyl? c. The distribution of net income to Heckyl will be under this scenario than it would be if the remaining partnership net income was distributed equally between the partners. 2. The partnership net income for the first year is $650,000, and Heckyl and Jeckyl distribute any remaining net income in the following ratio: 70% to Heckyl, 30% to Jeckyl. a. How much net income should be distributed to Heckyl? b. How much net income should be distributed to Jeckyl? c. The distribution of net income to Jeckyl will be under this scenario than it would be if the remaining partnership net income was distributed equally between the partners