Question: Baird and Smith have a partnership that allocates income based upon salary allocations, interest allocations and an income ratio of 6:4 (Baird:Smith). The salary allocations

Baird and Smith have a partnership that allocates income based upon salary allocations, interest allocations and an income ratio of 6:4 (Baird:Smith). The salary allocations are $20000 to Baird and $40000 to Smith. The interest allocations are 10% interest of each partner's capital balance which are: Baird has $100000 of capital and Smith has $150000.

What amount of a $310000 net income would Baird receive under this income sharing plan?

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