2. On January 1, 2020, A,B and C formed ABC Partnership with original capital contribution of P300,000,P509,000 and P200,000. A is appointed as managing partier, During 2020,A,B and C made additional investments of P500,000, P200,000 and P300,000, respeetively. At the enc of 2020,A,B ard C made urawings of P200,000,P100,000 and P400,000, respectively. At the end of 2020 , the capital balance of C is reported at P320,000. The profit or loss agreement of the partners is as follows: - 10% interest on original capital contribution of the partners. - Quarteriy salary of P40,000 and P10,000 for A and B, respectively. - Bonus to A equivalent to 20% of Net Income after interest and salary to all partners - Remainder is to be distributed equaily among the partners. 1. What is the parinership profit for the year ended December 31,2020 ? a. 900,000 b. 1,020,000 c. 1,050,000 d. 960,000 2. What is A's share in partnership profit for 2020 ? a. 190,000 b. 340,000 . 540,000 d. 200,000 3. What is B's share in jostnership profict for 2020 ? a. 200,000 b. 290,090 c. 50,000 d. 90,000