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Cullumber Co. reports net income of $54,000. Partner salary allowances are Pitts $15,000, Filbert $7,000, and...

Cullumber Co. reports net income of $54,000. Partner salary allowances are Pitts $15,000, Filbert $7,000, and Witten $4,000. Indicate the division of net income to each partner, assuming the income ratio is 55 : 20 : 25, respectively.

Division of Net Income

Pitts

Filbert

Witten

Total
Salary allowance $ $ $ $
Remaining income
Total division of net income $ $ $ $
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