QS 12-4 Partnership income allocation LO P2 Stolton and Bright are partners in a business they started two years ago. The partnership agreement states that Stolton should receive a salary allowance of $14,300 and that Bright should receive a $21,100 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 $59,700. (Enter all allowances as positive values. Enter losses as negative values.) Allocation of Partnership Income Net Income Salary allowances Stolton Bright Total 59,700 S 14,300 S 2,100 16,400 Balance of income Balance allocated equally 0 Balance of income 0 Shares of the partners S 14,300 S 2,100