The partnership agreement of Davis Ed, and Larry provides for annual distribution of profit and loss in the following sequence: - Davis, the managing partner, receives a bonus of 10% of net income after bonus. - Each partner receives 15% interest on average capital investment. -Residual profit or loss is to be divided 4:4:2. Average capital investments for the year were: Davis $300,000 Ed $400,000 Larry $200,000 Required: Prepare a schedule to allocate net income, assuming operations for the year resulted in: Net income of $220,000. Net income of $132,000. Net loss of $45,000. Net income of $220,000