Question 3 Jones, Silva, and Thompson form a partnership and agree to allocate income equally after recognition of 10% interest on beginning capital balances and monthly salary allowances of $2,010 to Jones and $1,480 to Thompson. Capital balances on January 1 were as follows: Jones Silva Thompson $40,100 25,100 30,200 Calculate the net income (loss) allocation to each partner under each of the following independent situations. 1. 2. Net income for the year is $99,120. Net income for the year is $38,160. Net loss for the year is $15,750. 3. (Enter loss allocation using either a negative sign preceding the number e.g. -2,945 or parentheses e.g. (2,945).) Jones Silva Thompson 1. Income (Loss) allocation $ $ 2. Income (Loss) allocation $ $ 3. Income (Loss) allocation $ to LINK TO TEXT