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

Jones, the managing partner, receives a bonus equal to $10$ percent of the business$$s profit.

Each partner receives $10$ percent interest on average capital investment.

Any residual profit or loss is divided equally.

The average capital investments for $2024$ were as follows:

Jones $ $80,000$

King $160,000$

Lane $240,000$

Required:

The partnership earned $$40,000$ net income for $2024.$ Prepare a schedule showing how the $2024$ net income should beNote: Loss amounts should be indicated with a minus sign.hubcine she

allocated to the partners.