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3. Prepare a balance sheet as of the end of zor2. 2. Prepare a statement of partnership equify for 20r2 If any amounts are tero, enter in " 0 ". 3. Prepare a balance sheet as of the end of 20r2. The balance in Xue's capital account includes an add tional investment of 59,000 made on Mar 5,20 r2. Required: 1. Prepare an income statement for 20y2, indicating the division of net income. The parthership agreement provides for salary allowances of 538,000 to Ramirez and $46,000 to Xue, allowances of 10% on each parther's capital balance at the beginning of the fiscal yeac, and equal division of the remaining net income or net loss. Decemter 31,20y. Ramirex and Xue Triat balance December 3H4 zorz \begin{tabular}{|c|c|c|} \hline & \begin{tabular}{c} Debil \\ Ealances \end{tabular} & \begin{tabular}{l} Gedit \\ Balances \end{tabular} \\ \hline Cavh & w,100 & \\ \hline Accourts Recrivatle & 37,200 & \\ \hline Supples & 1,470 & \\ \hline tand & 5,090 & \\ \hline \end{tabular} bulding 100,000 Aceumalabed Depriciation-Dulting sa, 150 clice Equipment 49,600 Actumulated Destecutien-orfice fenament it. 060 Actcurita Pavasie 27,760 salaries torasie 1000 camia Ramiret, Cabual 90.009 Camile Rarires, Orawing 41,900 hry xue, Captal 55.909 Ang Xue, Orawing Arothional fres 34t,6e Salary Frpente 135, too Droverietien Fapente- buldene 13. 500 Heating and Lohting Eeprnse a.tod 4200 Foperfy Tar Coberse 6.400 Gunetres Exenc: Anna

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