Jones and Jolly formed a partnership and their capital account balances are $70,000 and $30,000, respectively. Partners get 10% interest on their initial investment and draw salaries of $15,000 each. The profit-sharing percentages of partners Jones and Jolly are based on their initial capital investment At the end of fiscal year, net income is $80,000 which to be allocated out among two partners. Determine how much total should be allocated out to each. State your answer for Jones and Jolly under a. interest, b. salary and c. net income.