The partnership agreement of Angela and Dawn has the following provisions:

1.	The partners are to earn 10 percent on the average capital.
2.	Angela and Dawn are to earn salaries of $26,500 and $17,000, respectively.
3.	Any remaining income or loss is to be divided between Angela and Dawn using a 70:30 ratio.

Angelas average capital is $52,000 and Dawns is $36,000.

Required:

Prepare an income distribution schedule assuming the income of the partnership is (a) $90,000 and (b) $26,000. If no partnership agreement exists, what does the UPA 1997 prescribe as the profit or loss distribution percentages? (Amounts that are to be deducted from an individual partner's capital balance should be entered with a minus sign.)

	Angela		Dawn		Total
(a) Distribution of $90,000 income:
Profit percentage		%		%	0	%
Average capital
Net income
Interest on average capital					0
Salary					0
Residual income (deficit)					$0
Allocate					0
Total	$0		$0		$0
(b) Distribution of $26,000 income:
Profit percentage		%		%	0	%
Average capital
Net income
Interest on average capital					0
Salary					0
Residual income (deficit)					$0
Allocate					0
Total	$0		$0		$0

The whole table needs to be filled out