Income and loss sharing based on salaries, interest allowance, and a fixed ratio Jackson and Thompson agree to share income or losses as follows: 1. Annual salary allowances of $30,000 for Jackson and $10,000 for Thompson 2. Interest allowances of 10% of beginning-of-year capital balance 3. Remainder to be shared equally. Assume partnership income for the year is $90,000 and Jackson and Thompson's beginning-of-year capital balances are $80,000 and $70,000 respectively