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 20 percent of the business's profit.
∙ Each partner receives 15 percent interest on average capital investment.
∙ Any residual profit or loss is divided equally.
The average capital investments for 2018 were as follows:
Jones . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. $100,000
King . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 200,000
Lane . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... . 300,000
How much of the $90,000 partnership profit for 2018 should be assigned to each partner?