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according to the question ifs strictly saying the net income is $76,000 So yes i...

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Accounting

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according to the question ifs strictly saying the net income is $76,000 So yes i assume it will be a negative number.
Question 2: Dividing Net Income (6 Points) Reardon and Reese had capital balances of $140,000 and $160,000, respectively, at the beginning of the current fiscal year. The partnership agreement provides for salary allowances of $25,000 and $35,000, respectively; an allowance of interest at 12% on the capital balances at the beginning of the year, and the remaining net income divided equally. Net income for the current year was $76,000 Requiredt Precat te Drs of t msatenent for e curentyP Use the following supporting calculation tables Note: this is not the answer tables, you still have to answer the questions on the answer tables for each corresponding question. (a) Net Income $76,000 Reardon Reese Total Division of net income: a Salary allowance b. Interest allowance Total Allowance c. Remaining income Net income

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