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PFW Co. reports net income of $76,900. Partner salary allowances are Pitts $16,130, Filbert $3,110, and Witten $6,500. Indicate the division of net income to
PFW Co. reports net income of $76,900. Partner salary allowances are Pitts $16,130, Filbert $3,110, and Witten $6,500. Indicate the division of net income to each partner, assuming the income ratio is 50 : 30 : 20, respectively.
Division of Net Income
Salary Allowance Pitts Filbert Witten Total
$_16,130___ $ _3,110__ $_6,500___ $_25,740____
Remaining income
$___________ $________ $________ $___________
Total division of net income $_______ $________ $_________ $____________
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