Partnership income allocation: Salaries, interest, and bonus (12.5 points) Novarro and Ocampo are partners in NO Services. The partnership agreement specifies the following income sharing provisions: 1. Novarro receives an annual salary of $100,000 and Ocampo receives an annual salary of $75,000. 2. Each partner receives 5% interest on average capital investment. 3. Remaining income is allocateld in a 2:3 ratio. 4. All provisions are fully implemented. Average capital investment for the year is $350,000 for Novarro and $400,000 for Ocampo. Required a. Prepare a schedule to allocate partnership income of $270,000. b. Prepare a schedule to allocate partnership income of $150,000. c. Suppose that in addition to the above income allocation provisions, Novarro receives a bonus of 20% of profit after the bonus but before other allocation provisions. Prepare a schedule to allocate partnership income of $330,000