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The partnership agreement of Jones. King. and Lane provides for the annual allocation of the business's profit of loss in the following sequence: - Jones,

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The partnership agreement of Jones. King. and Lane provides for the annual allocation of the business's profit of loss in the following sequence: - Jones, the managing partner, receives a bonus equal to 15 percent of the business's profit. - Each partner receives 11 percent interest on average capital imvestment - Any residual profit or loss is divided equally The average capital investments for 2021 were as follows: The partnership earned $42,000 net income for 2021 Prepare a schedule showing how the 2021 net income should be allocated to the partners (Loss amounts should be indicated with e minus sign.)

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