Use the following to answer questions a & b:

Partner A Partner P Partner B

Salary Allowance $30,000 $10,000 $40,000

Interest on average capital balances 10% 10% 10%

Remainder 40% 40% 20%

The APB partnership agreement specifies that partnership net income be allocated as follows: Average capital balances for the current year were $20,000 for A, $30,000 for P, and $50,000 for B.

a. If net income is $140,000, how much income is allocated to each partner? Show all computations.

b. If net income is $90,000, how much income is allocated to each partner? Show all computations.

c. If net income is $75,000, how much income is allocated to each partner? Show all computations.