Adam, Bella, and Chris operate a partnership with a complex profit and loss sharing agreement. The average capital balance for Adam, Bella and Chris on December $31,2014$ is $$120,000,$$$270,000,$ and $$340,000,$ respectively. A $6\%$ interest allocation is provided to each partner based on the average capital balance on December $31,2014.$ Adam and Bella receive salary allocations of $$40,000$ and $$50,000,$ respectively. If partnership net income is above $$160,000$ after the salary allocations are considered $($but before the interest allocations are considered$).$ Chris will receive a bonus of $10\%$ of the income $($pre$-$salary and interest, but net of the bonus$).$ All residual income is allocated in the ratios of $2$:$2$:$6$ to Adam, Bella, and Chris, respectively.

Part $1$: Prepare a schedule to allocate income to the partners, assuming that the partnership net income for $2014$ is $$330,000.$

Part $2$: Prepare a journal entry to distribute the partnership's income to the partners $($assume that an Income Summary account is used by the partnership$).$

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Question $3(16$ points$)$

The balance sheet of the Addy.Bess. and$\_$Clara nartnershipon.$\_$anuarx $1\mathrm{.}2014.($the$.$