Question: Jabb & Nabb Co. reports net income of 32,000. Interest allowances are Jabb 6,000 and Nabb 5,000, salary allowances are Jabb 15,000 and Nabb 12,000,

Jabb & Nabb Co. reports net income of £32,000. Interest allowances are Jabb £6,000 and Nabb £5,000, salary allowances are Jabb £15,000 and Nabb £12,000, and the remainder is shared equally. Show the of income on the income statement.

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