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Joe King and Haw Haw are partnoers in a partnership. Per the partnership agreement, they share equally in the net business income of a partnership

Joe King and Haw Haw are partnoers in a partnership. Per the partnership agreement, they share equally in the net business income of a partnership after the provision for salaries and interest or partner .capital contributions Ioe and Haw are actively involved in the partnership. Haw has made a major capital contribution and is paid interest on this contribution. In the current year, the income statement indicates Ne Business Income of $55,000, after a salary of $80,000 to Joe and $24,000 to Haw, and interest of $15,000 paid to Haw. The net income allocation to Joe and Haw is?

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