Part 3 The SRT partnership agreement specifies that partnership net income be allocated as follows: Average capital balances for the current year were $60,000 for S,$50,000 for R, and $40,000 for T. a) Assuming a current year net income of $125,000, what amount should be allocated to each partner? b) Assuming a current year net income of $45,000, what amount should be allocated to each partner