1. The partnership agreement of Lucky Guapo and Girly Gwanda provides the following: a. Both partners shall be entitled for an annual salary of P 30,000 and P 50,000. b. 10% bonus after partnership salaries to Girly being the managing partner. c. 18% interest is given to both partners based on average capital ratio. d. Residual profit and loss shall be distributed on the ratio 2:2 The ledgers of their capital balances are shown below: Lucky Guapo Jan. 1. 100, 000 June 1. 20,000 Oct. 1. 30,000 Girly Gwanda Jan. 1. 150, 000 May 1. 50,000 Nov. 1 10,000 Profit for distribution was P 180,000 Required: a. Prepare Profit Distribution schedule b. Journal entry to distribute profit to partners