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The net income of X and Y Company for 2020 amounted to 2016000, X is the managing partner, the partners agreed to the distrbution of income as...

The net income of X and Y Company for 2020 amounted to 2016000, X is the managing partner, the partners agreed to the distrbution of income as follows:

- Bonus of 20% to X

- Salaries of X 192000, Y 288000

- Interest on average capital balance X 57600 , Y 38400

- Balance be divided equally

Required prepare a schedule of net income allocation bonus is based on the net income after bonus but before salaries and interest




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