Question $1$: Alex and Jamie formed a partnership, dividing income as follows:

Annual salary allowance to Alex of $$30,000.$

Interest of $8\%$ on each partner's capital balance on January $1.$

Any remaining net income divided equally.

Alex and Jamie had $$50,000$ and $$100,000$ in their January $1$ capital balances, respectively. Net income for the year was $$100,000.$

How much net income should be distributed to Alex and Jamie? Also, Prepare the Statement of Financial Position.

Question $2$: Alex and Jamie formed a partnership, dividing income as follows:

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