McGill and Smyth have capital balances on January 1 of $44,000 and $47,000, respectively. The partnership income-sharing agrecment provides for (1) annual salar ies of $15,000 for Mc Gll and $12,000 for Simyth, (2) interest at 10% on beginning capital balances, and (3) remaining income or loss to be shared 70% by McGll and 30% by Smyth. (a) (1) Prepare a schedule showing the distribution of net income, assuming net income is $65,000. (If an amount reduces the account balance then enter with a nesative sign preceding the number or parenthesis, e.g. 15,000,(15,000)) Prepare a schedule showing the distribution of net income, assuming net income is $22,000, (II an ameunt reduces the account balance then enter with o negative sign preceding the number or parenthesis, es, 15,000,(15,000)}