Weyburn General Store is a partnership with net income of $$88,000$ and needs to split this between

partners Sharmila Sajjad and Ethel Hardachre. As Sharmila Sajjad works full$-$time in the business,

they have an annual salary of $$46,000$ and contributed $1,344$ of hours of work. The other partner,

Ethel Hardachre, put in $463\mathrm{.}5$ hours of work and has an annual salary of $$25,250.$ The partners split

$$10,200$ of the net income as additional salary based upon the ratio of hours of work. The partners

invested $$21,750($Sharmila Sajjad$)$ and $$12,625($Ethel Hardachre$).$ Each partner will receive $4\%$ on

their invested capital. Any residual net income or loss will be split based upon the ratio of invested

capital. Prepare a schedule $($showing calculations$)$ of the split of net income or loss amongst the

partners. $(15$ marks$)$