Question: need answer within 20 minutes please PROBLEM VI On January 1, 2018 Joey and Amy formed a partnership called Buttafuoco Associates. The partnership agreement provides

need answer within 20 minutes please

PROBLEM VI On January 1, 2018 Joey and Amy formed a partnership called Buttafuoco Associates. The partnership agreement provides for the division of net income as follows: Interest on average capital balances for the year, 10% Salary allowances: Joey $50,000; Amy $30,000 Remainder divided equally. You also discover the following: 2018 net income was $140,000 Joey's average capital was $200,000 while Amy's average capital for 2018 was $800,000

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