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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

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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 $12,500 and that Bright should receive a $23,500 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 $52,100. (Enter all allowances as positive values. Enter losses, if any, as negative values.) Allocation of Partnership Income Net income Salary allowances Balance of income Balance allocated equally Stolton Bright Total $ 52,100 0 0 Balance of income $ 0 Shares of the partners $ 0 $ 0

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