work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completiu Return to questio ! Required information (The following information applies to the questions displayed below.) Mo, Lu, and Barb formed the MLB Partnership by making investments of $79,200, $308,000, and $492,800 respectively. They predict annual partnership net income of $519,000 and are considering the following alternative plans of sharing income and loss: (a) equally: (b) in the ratio of their initial capital investments; or ( salary allowances of $85,200 to Mo, $63,900 to Lu, and $96,500 to Barb; interest allowances of 10% on their initial capital investments; and the remaining balance shared as follows: 20% to Mo, 40% to Lu, and 40% to Barb Required: 1. Use the table to show how to distribute net income of $519,000 for the calendar year under each of the alternative plans being considered. (Do not round intermediate calculations.) Answer is complete but not entirely correct Income (L.) Sharing Plan Lu Mo Barb Total $ 519,000 519,000 $ 0 1/3 173,000 1/3 173.000 1/3$ 173.000 173.000 $ $ 173.000 Lu 173,000 Barb Mo $ 519,000 Total $ 519,000 $79,200/5680,000 $ 46,710 $300,000/$880,000 $ 181,6505492,800/9880,000 $ 290,640 519,000 Plan Not Income (los) Balance located equally Balance of income (10) Shares to the partners Plan (b) Net Income (0) Balance allocated in proportion to Initial investments Balance of income (3) Share to the partners Pian (c) Net income) Salary allowances Balance of income osa) Interest allowances Balance of income foss) Balance stocated Balance of income foss) Shares of the partners $ $ 46,710 181.650 Lu 290,640 Barb 85.200 5 63.900 96,500 $ 0 $ 519,000 Total $ 519.000 (245,600) 273,400 (88.000) 185.400 (10,040) $ 175,360 $ 343.640 7,920 30,800 49,280 4,445 5,551 44 $ 97 565 $ 100.250 $ 145,624