PE 12-2A Dividing partnership net income OBJ. 2 Han Lee and Monica Andrews formed a partnership, dividing income as follows: 1. Annual salary allowance to Lee of $32,000. 2. Interest of 4% on each partner's capital balance on January 1. 3. Any remaining net income divided to Lee and Andrews, 2:1. Lee and Andrews had $80,000 and $150,000, respectively, in their January 1 capital bal- ances. Net income for the year was $64,000. How much net income should be distributed to Lee and Andrews? PE 12-2B Dividing partnership net income OBJ. 2 John Prado and Ayana Nicks formed a partnership, dividing income as follows: 1. Annual salary allowance to Prado, $10,000 and Nicks, $28,000. 2. Interest of 5% on each partner's capital balance on January 1. 3. Any remaining net income divided equally. (Continued) Prado and Nicks had $20,000 and $50,000, respectively, in their January 1 capital bal. Accounting for Partnerships and Limited Liability Companies ances. Net income for the year was $30,000. How much net income should be distributed to Prado and Nicks