Martin Farley and Ashley Clark formed a limited liability company with an operating agreement that provided a salary allowance of $41,400 and $32,100 to each member, respectively. In addition, the operating agreement specified an income-sharing ratio of 3:1. The two members withdrew amounts equal to their salary allowances. Revenues were $668,000 and expenses were $520,000, for a net income of $148,000. a. Determine the division of $148,000 net income for the year.

	Farley	Clark	Total
Salary allowance
Remaining income
Net income