On Jan 2020 Jones and Evans invested in a Tech. Company headquartered in Oman A total of the cash invested was 286085.8 US$ (63.6363% and 36.3636 % respectively US$). Both Jones and Evens agreed as following procedure for contribution and sharing profits and losses:

- The Initial fund was in US$, and Jones and Evans partnership financial statements reporting currency is in Omani Rial (OMR). Thus, the exchange rate in Jan 2021 was (1US = .3845 OMR)

- 16% interest on the yearly beginning capital balance

- OMR 10 per hour of work that can be billed to the partnership's clients

- the remainder divided in 40%: 60%.

-All income reported for 2020 and 2021 was in US $ end of year. The exchange rate was fixed at (1US = .3845 OMR)

For 2020, the partnership's income was US$ 104031.2 Jones had 400 billable hours, and Evans worked 700 billable hours.

In 2020, the partnership's income was US$ 78023.4, and Jones and Evans worked 800 and 1,200 billable hours respectively. Only Jones allowed to withdrew only OMR1,000 per month throughout 2020 and 2021. (round off decimal places)

1. Determine the amount of net income allocated to each partner for 2020. (20 marks)

2. Determine the amount of net income allocated to each partner for 2021. (20 marks)