Help please!!

Show Attempt History Current Attempt in Progress McGill and Smyth have capital balances on January 1 of $53,000 and $34,000, respectively. The partnership income-sharing agreement provides for (1) annual salaries of $16,000 for McGill and $17,000 for Smyth, (2) interest at 10% on beginning capital balances, and (3) remaining income or loss to be shared 70% by McGill and 30% by Smyth. (a) Your answer is correct. (1) Prepare a schedule showing the distribution of net income, assuming net income is $66,000. (If an amount reduces the account balance then enter with a negative sign preceding the number or parenthesis, e.g.-15,000, (15,000).) (2) Prepare a schedule showing the distribution of net income, assuming net income is $27,000. Ofan orotant reduces the account balance then enter with a negative sign preceding the number or parenthesis, eg -15,000,(15,000)) DIVISION OF NET INCOME McGill Smyth Total 17000 16000 33000 Salary allowance 8700 3400 5300 Interest allowance 20400 41700 21300 Total salaries and interest (14700) (4410) (10290) Remaining income / deficiency 27000 15990 11010 $ $ Total division of net income