Decker and Mader have a partnership agreement which includes the following provisions regarding sharing net income or net loss:
1. A salary allowance of $48,000 to Decker and $36,000 to Mader.
2. An interest allowance of 10% on capital balances at the beginning of the year.
3. The remainder to be divided 60% to Decker and 40% to Mader.
The capital balance on January 1, 2012, for Decker and Mader was $90,000 and $120,000, respectively. During 2012, the Decker and Mader Partnership had sales of $495,000, cost of goods sold of $290,000, and operating expenses of $85,000.

Instructions
Prepare an income statement for the Decker and Mader Partnership for the year ended December 31, 2012. As a part of the income statement, include a Division of Net Income to each of the partners.