Mo Meek, Lu Ling, and Barb Beck formed the MLB Partnership by making capital contributions of $69,300, $269,500, and $431,200, respectively. They predict annual partnership net income of $460,500 and are considering the following alternative plans of sharing income and loss: (a) equally; (b) in the ratio of their initial capital investments; or (c) salary allowances of $80,800 to Mo, $60,600 to Lu, and $91,000 to Barb; interest allowances of 10% on their initial capital investments; and the balance shared as follows: 20% to Mo, 40% to Lu, and 40% to Barb.

1. Use the table to show how to distribute net income of $460,500 for the calendar year under each of the alternative plans being considered. (Do not round intermediate calculations.)

Mo Meek, Lu Ling. and Barb Beck formed the MLB Partnershlp by making cepltal contrlbutions of $69,300. S269,500, and S431,200, respectively. They predict annual portnershlp net income of S460,500 and are consldering the following aternative plans of sharing Inco me ond loss ( equel b In he ato f their In l c p tel Im est ents; o c se ry all ences o S80 800 to Mo 0.600 to Lu ar d $91 0 to arb interest o o er ces 10% on their Int 1 Investments and the bel ce she rec 5 follows to Mo 40 toLu, and 40% to Barb 6. Awad: 909 points Required: 1. Use the table to show how to distribute net income of 5460,500 for the calendar yar under each of the altermative plans being considered. (Do not round intermediate calculations. Plan Mo Barb Net Income (oss) Balarce alocated equally Balarce of income (lass Snares to the partners 5 460,500 S 153,500 S 153,500 S 153,50040,500 $ 153,500 S 153,500 S 153,500460,500 Mo Barb Total Net Income (oss) Balance allocated in propartion to S 460,500 nta investments Balance of income (loss) Snares to the partners S 460,500 Mo Lu Barb Total Net income (loes) Salary a owances Salance of income (loss Interest alowances Balarce of income (loss Balance alocated Balance of income (loss Shares of the partners S 460,500