The capital account balances on January 1, 2017, for Carla and Dalia were $140,000 and $210,000, respectively. During 2017, the Carla and Dalia partnership had sales of $520,000, cost of goods sold of $182,000, and operating expenses of $46,000. Instructions: Prepare a schedule which clearly sets out the division of income or loss to the partners for 2017. 1. Since Carla will work only part time in the partnership, she will be allocated a salary allowance that is one half the salary allowance allocated to Dalia. Dalia's salary allowance will be 20% of sales. 2. Both partners will be given an interest allowance of 20% on their beginning-of-the-year capital account balances. 3. The remaining income and loss is to be divided 40% to Carla and 60% to Dalia Ex. 14-2 Knudsen Corporation was organized on January 1, 2016, during its first year, the corporation issued 2,000 shares of $50 par value preferred stock and 100,00 shares of 5 10 par value common stock. At Dec. 31 the company declared the following cash dividends :2016:55.000, 2017 12,000, and for 2018: $28,000 a) Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 6% and noncumulative