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QS 12-4 Partnership income allocation LO P2 Ann Stolton and Susie Bright are partners in a business they started two years ago. The partnership agreement

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QS 12-4 Partnership income allocation LO P2 Ann Stolton and Susie Bright are partners in a business they started two years ago. The partnership agreement states that Stolton should receive a salary allowance of $15,800 and that Bright should receive a $23,500 salary allowance. Any remaining Income or loss Is to be shared equally. Determine each partner's share of the current year's net income of $58,100. (Enter all values as posltive amounts.) Allocation of Partnership Income Stolton Bright Not Income Salary allowances Balance of income Balance allocated equally Balance of income Shares of the partners $ os Total 58,100 0 0 $ 0 0

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