Jones, Silva, and Thompson form a partnership and agree to allocate income equally after recognition of $10\%$ interest on beginning

capital balances and monthly salary allowances of $$2,300$ to Jones and $$1,400$ to Thompson. Capital balances on January $1$ were as

follows:

Silva $,25,000$

Thompson $,29,400$

Calculate the net income $($loss$)$ allocation to each partner under each of the following independent situations.

Net income for the year is $$98,900.$

Net income for the year is $$38,900.$

Net loss for the year is $$14,500.$

$($Enter loss amounts using either a negative sign preceding the number e$.$g$.-2,945$ or parentheses e$.$g$.(2,945).)$

Jones

Income $($Loss$)$ allocation $

Income $($Loss$)$ allocation

Income $($Loss$)$ allocation

Silva

$

$

$

Thompson

$

$

$