Red and White formed a partnership in Year 1. The partnership agreement provides for annual salary allowances of $55,000 for Red and $45,000 for White. The partners share profit equally and losses in a 60:40 ratio for Red and White, respectively. The partnership had earnings of $80,000 for Year 2 before any allowance to partners. What amount of these earnings should be credited to each partner's capital account? Show your work?

Question : "The partnership pays bonus to White. The bonus is equal to 25% of profit AFTER the bonus".