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The income statement for the Apple-Jack Partnership for the year ended December 31,205, follows: Additional Information for 205 1. Apple began the year with a capital balance of $45,000. 2. Jack began the year with a capital balance of $115,000. 3. On April 1, Apple invested an additional $22,500 into the partnership. 4. On August 1, Jack invested an additional $25,000 into the partnership. 5. Throughout 205, each partner withdrew $400 per week in anticipation of partnership net income. The partners agreed that these withdrawals are not to be included in the computation of average capital balances for purposes of income. distributions. Apple and Jack have agreed to distribute partnership net income according to the following plan: The income statement for the Apple-Jack Partnership for the year ended December 31,205, follows: Additional Information for 205 1. Apple began the year with a capital balance of $45,000. 2. Jack began the year with a capital balance of $115,000. 3. On April 1, Apple invested an additional $22,500 into the partnership. 4. On August 1, Jack invested an additional $25,000 into the partnership. 5. Throughout 205, each partner withdrew $400 per week in anticipation of partnership net income. The partners agreed that these withdrawals are not to be included in the computation of average capital balances for purposes of income. distributions. Apple and Jack have agreed to distribute partnership net income according to the following plan

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