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Stolton and Bright are partners in a business they started two years ago. The partnership agreement states that Stolton should receive a salary allowance of

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Stolton and Bright are partners in a business they started two years ago. The partnership agreement states that Stolton should receive a salary allowance of $11,100 and that Bright should recelve a $23,000 salary allowance. Any remaining income or loss is to be shared equally Determine each partner's share of the current year's net income of $50,800. (Enter all allowances as positive values. Enter losses as negative values.) Total 50.800 Allocation of Partnership Income Stolton Bright Net Income Salary alowances Balance of income Balance allocated equally Balance of income Shares of the partners

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