1 POL Nathan owns the Kavanah Bakeshop. On January 2, 2022, Nathan invited his friend Dwayne to be his business partner, who invested P800,000 for a 50% equity in the partnership. The two agreed t share profit or losses as follows: 1. 10% interest on average capital, 2. Salary of P120,000 and P100,000 to Nathan and Dwayne, respectively, 3. Bonus to Nathan of 20% after bonus, interest on capital and salary, and 4. Remaining profit or loss to be divided equally. Nathan made an additional investment of P200,000 on March 1, 2022, while Dwayne made a capital withdrawal of P100,000 on July 1, 2022 During 2022, Nathan and Dwayne withdrew 80% of their salary allowances At the end of 2022, the Income Summary account showed a credit balance of P924,000. On January 10, 2023, Nathan and Dwayne agreed to admit Jolina in their partnership. They further agreed to withdraw all of their remaining share in the 2022 profit. Jolina is to invest P700,000 cas for a 25% equity in the partnership. The three agreed that values of certain partnership assets need updating at the time of Jolina's admission. They further agreed to divide profit and loss in the rat 4:33 to Nathan, Dwayne and Jolina, respectively Select the correct response(s) Downward asset revaluation Bonus to Nathan and Dwayne Bonus to Jolina and revaluation of assets Increase in total partnership assets Decrease in partnership assets Upward asset revaluation Increase in Nathan's and Dwayne's increase in total partnership equity