On February $1,2023,$ Morgan, Bruce, and Mike began a partnership in which Morgan and Mike each contributed cash of $$25,000$; and Bruce contributed property with a fair value of $$50,000$ and a tax basis $$40,000.$ Bruce receives a $5\%$ bonus of partnership income. Morgan and Mike receive salaries of $$10,000$ each. The partnership agreement of Morgan, Bruce, and Mike provides that all partners receive $5\%$ interest on capital, and those profits and losses of the remaining income be distributed to Morgan, Bruce, and Mike by a $1$:$3$:$1$ ratio.

Prepare a schedule to distribute $$25,000$ of partnership net income to the partners.