Question 1 of 2 < > Current Attempt in Progress 1.5/5 McGill and Smyth have capital balances on January 1 of $55,000 and $47,000, respectively. The partnership income-sharing agreement provides for (1) annual salaries of $15,000 for McGill and $13,000 for Smyth, (2) interest at 11% on beginning capital balances, and (3) remaining income or loss to be shared 70% by McGill and 30% by Smyth. (a) Your answer is partially correct. (1) Prepare a schedule showing the distribution of net income, assuming net income is $67,000. (If an amount reduces the account balance then enter with a negative sign preceding the number or parenthesis, e.g. -15,000, (15,000).) McGill DIVISION OF NET INCOME Smyth Total