Question 1 of 6 -/15 III View Policies Current Attempt in Progress McGill and Smyth have capital balances on January 1 of $ 57,000 and $ 47,000, respectively. The partnership income-sharing agreement provides for (1) annual salaries of $ 16,000 for McGill and $ 13,000 for Smyth, (2) interest at 10% on beginning capital balances, and (3) remaining income or loss to be shared 60% by McGill and 40% by Smyth. (a) (1) Prepare a schedule showing the distribution of net income, assuming net income is $ 84,000. (If an amount reduces the account balance then enter with a negative sign preceding the number or parenthesis, eg.-15,000. (15,000)) DIVISION OF NET INCOME McGIII Smyth Total Salan almann Question 1 of 6 - / 15 balance then enter with a negative sign preceding the number of parenthesis, eg -15,000, (15,000 DIVISION OF NET INCOME McGIII Smyth Total Salary allowance Interest allowance Total salaries and interest Remaining Income/ deficiency Total division of net income Question 1 of 6 - / 1 (2) Prepare a schedule showing the distribution of net income, assuming net income is $ 30,000. (If an amount reduces the account balance then enter with a negative sign preceding the number or parenthesis, e.g.-15,000, (15,000)) DIVISION OF NET INCOME McGill Smyth Total Salary allowance Interest allowance Total salaries and interest Remaining income deficiency