Moe, Larry and Curly are partners in The Three Stooges Company The partnership earned a profit of $200,000 in 2020. The partnership agreement includes the following regarding the allocation of profits and losses: 1. Interest of 10% is to be paid on the beginning partner's capital balances. 2. Moe and Larry receive salaries of $60,000 and $50,000, respectively. 3. The balance of income is to be distributed 40%, 40%. 20% to Moe, Larry, and Curly, respectively. The beginning capital balances were $70,000, $110,000 and $150,000 for partners Moe, Larry, and Curly, respectively. Use the spreadsheet below to distribute the income according to their agreement. (1) Allocation of $200,000 of Partnership Income Capital Balances: Moe Larry Curly Cumulative Total Profit and loss percentage 1. Interest on capital 10% 2. Salaries 3. Balance of income (loss) divided Income (loss)