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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 $15,500 and that Bright should receive a $23,100 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 $59,900. (Enter all allowances as positive values. Enter losses as negative values.) Tota! 59,900 0 Allocation of Partnership Income Stolton Bright Net Income Salary allowances Balance of income Balance allocated equally Balance of income Shares of the partners $ 0 $ 0 0 0

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