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2 Keith Williams and Brian Adams were students when they formed a partnership several years ago for a part time business called Music Works. Adjusted

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2 Keith Williams and Brian Adams were students when they formed a partnership several years ago for a part time business called Music Works. Adjusted trial balance information for the year ended December 31, 2020, appears below Account Balance Account Balance Accounts payable $ 10,600 Keith Williams, capital $ 39,300 Accumulated depreciation 86,000 Keith Williams, withdrawals 61,000 Brian Adams, capital 33,000 Note payable, due May 2022 142,000 Brian Adams, withdrawals 71,000 office supplies 27,000 Cash 221,200 Revenues 502.000 Equipment 322,000 Utilities payable Expenses 113,00 "Assume all account balances are normal **The partners made no investments during the year ***$51,000 of the note payable is due in May 2021 Required: 1. Prepare calculations that show how the profit should be allocated to the partners assuming the partnership agreement states that profitiflosses) are to be shared by allowing a $101,000 per year salary alldyance to Williams, a $161,000 per year salary allowance to Adams, and the remainder on a 3.2 ratio (Leave no cell blank. Enter o" when the answer is zero.)

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