The ledger of Camila Ramirez and Ping Xue, attorneys-at-law, contains the following accounts and balances after adjustments have been recorded on December 31, 20Y2:

Ramirez and Xue
Trial Balance
December 31, 20Y2
	Debit Balances		Credit Balances
Cash	38,600
Accounts Receivable	36,800
Supplies	1,400
Land	92,000
Building	98,600
Accumulated DepreciationBuilding			57,500
Office Equipment	42,300
Accumulated DepreciationOffice Equipment			17,800
Accounts Payable			27,400
Salaries Payable			2,900
Camila Ramirez, Capital			90,000
Camila Ramirez, Drawing	41,400
Ping Xue, Capital			55,200
Ping Xue, Drawing	59,800
Professional Fees			334,400
Salary Expense	134,300
Depreciation ExpenseBuilding	13,300
Heating and Lighting Expense	6,600
Depreciation ExpenseOffice Equipment	4,100
Property Tax Expense	8,300
Supplies Expense	4,800
Miscellaneous Expense	2,900
	585,200		585,200

The balance in Xue's capital account includes an additional investment of $9,000 made on May 5, 20Y2.

Prepare an income statement for 20Y2, indicating the division of net income. The partnership agreement provides for salary allowances of $37,000 to Ramirez and $45,000 to Xue, allowances of 10% on each partner's capital balance at the beginning of the fiscal year, and equal division of the remaining net income or net loss.