[10 marks] Question 1: Presented below are balances of equity accounts at 1/1/2019 at Petra Co.: Capital Additional paid in capital Retained earnings 800,000 200,000 130,000 During 2019 the following additional information is provided: 1- Petra issued 100,000 ordinary shares at $2, with sales price (market price) $1.5 2- Petra declared and paid dividends at $60,000 3- Net income for 2019 was $200,000 4-treasury shares were purchased at a cost of $40,000 5-accumulated other comprehensive income was $10,000 Prepare statement of changes in equity for 2019. Then answer the questions at answer sheet page No. 1 Question #1 (5 Marks) a) Khaldun, Khaled, and Kamal are partners in a firm. Partners' capital during 2020 show the following: Khaldun Khaled Kamal Capital, January 1,2020 30000 40000 45000 Add: Additional investment 1/4/2020 6000 6000 Less: Deduction 1/5/2020 6000 Add: Additional investment 1/7/2020 4000 7000 Less: Deduction 1/10/2020 10000 Capital, December 31,2020 36000 50000 36000 During 2018, the partnership earned net income $70000. Khaled's share of profit if the partners share profits and losses based on the Average Partners' capital balances during the year...... b) Siham, Sawsan and Sozan are partners in a firm partners share net income based on ending partners' capital balances. Their capital on 1/1/2016 $120,000, $100,000, $90,000, respectively. During 2020, the partnership earned net income of $80,000. Siham reduce her capital of $20,000, Sawsan made drawings of $10,000, and introduced additional capital of $25,000. While Sozan reduce her capital of $5,000. Sozan's share of the net income is