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Noor Aliyah and Noor Ayeshah agree to venture into a partnership business and form the Noor & Noor Agency with the following partnership terms: a.

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Noor Aliyah and Noor Ayeshah agree to venture into a partnership business and form the Noor & Noor Agency with the following partnership terms: a. Aliyah and Ayeshah will share the profit and loss of the business at a ratio of 60%:40% respectively. Ayeshah is entitled to a monthly salary of $25,000. Both partners are entitled to a 10% interest allowance on the beginning balance of their capital. At the beginning of the year, Aliyah has a balance of $450,000 in her Capital Account, whilst Ayeshah's Capital account shows a balance of $320,000. During the year, Ayeshah withdrew $100,000. The partnership's net income for 2020 was $110,000. Instruction: Distribute the net income and calculate how much each of the partners will receive

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