Partners Vlado and Petra Receive a Yearly Salary of $100,000

Partners Vlado and Petra receive a yearly salary of $100,000 and $120,000, respectively, plus interest of 4 percent on weighted average capital. Partnership income for the year, before any distributions to partners, is $589,440. Weighted average capital balances for Vlado and Petra are $300,000 and $200,000, respectively. Assume full implementation.
Required
Calculate each partner's bonus for the year, in each of the following situations. Round your answers to the nearest dollar, if necessary.
a. Vlado gets a bonus of 20 percent of partnership income after salaries and interest, and Petra gets a bonus of 20 percent of partnership income after salaries, interest, and both bonuses.
b. Vlado and Petra each get a bonus of 20 percent of partnership income after salaries, interest, and both bonuses.
c. Vlado gets a bonus of 20 percent of partnership income after salaries, interest, and both bonuses, and Petra gets a bonus of 10 percent of partnership income partnership income after salaries, interest, and both bonuses.