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QS 12.5 (Algo) Partnership income allocation LO P2 Stolton and Bright are partners in a business thoy started two years ago. The parthership agreement states

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QS 12.5 (Algo) Partnership income allocation LO P2 Stolton and Bright are partners in a business thoy started two years ago. The parthership agreement states that stolton shouid receive a salary allowance of $13,400 and that Bright should recelve a $18,400 solaty allowance. Any remaining income of loss is to be shared equally. Determine ench panner's share of the current year's net income of \$52,500. (Enter all allowances as positive values. Enter losses, II any, as negative values.)

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