The following information concerns the partnership of Smith and Garcia LLP.
The partnership agreement provides for salary allowances of $ 91,900 for Smith and $ 89,350 for Garcia. The agreement also stipulates interest of 10 percent on invested capital at the beginning of the year (Smith, $ 95,280; Garcia, $ 53,040). There were no changes in the partners€™ Capital accounts during the year. The remainder of the net income is to be divided equally. Using this information, fill in the missing numbers in the partial income statement from Net Income through Division of Net Income for Smith and Garcia LLP and in the statement of partners€™equity.

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Smith and Garcia LLP Partial Income Statement For Year Ended December 31, 20 $205,302 Total J.V. SmithS. C. Garcia Net Income Division of Net Income: Salary Allowances Interest Allowances Excess of Income over Allowances Allocated Equally 9.220 Net Income $106,038 99,264 $205,302 Smith and Garcia LLP Statement of Partners Equity For Year Ended December 31,20 J. V Smith S.C. Garcia Total Capital, January 1, 20- Net Income for the Year Total Less Withdrawals for the Year Capital, December 31, 20- 205,302 $353,622 90,192 89,376