Question 5 Barr & Eglin Co. reports net income of $42,000. The partnership agreement provides for annual salaries of $24,000 for Barr and $18,000 for Eglin and interest allowances of $4,000 to Barr and $6,000 to Eglin. Any remaining income or loss is to be shared 70% by Barr and 30% by Eglin. Compute the amount of net income distributed to each partner. (If an amount reduces the account balance then enter with a negative sign preceding the number e.g. -15,000 or parenthesis e.g. (15,000).) Division of Net Income Barr Eglin Total Salary allowance $ Interest allowance Total salaries and interest Remaining deficiency Total division