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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 516,000 and that Bright should receive a 518 700 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 $56,500,(Enter all allowances os positive values. Enter losses os negative values.) Total 56.500 Allocation of Partnership Income Stolton Belight Net Income Salary allowances Balance of income Balance allocated equally Balance of income Shares of the partners 05 0 5 0 0

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