2. Partnership income allocationStatement of partnership capital Ell, Far, and Gar are partners who share profits and losses 20 percent, 20 percent, and 60 percent, respectively, after Ell and Far each receive a $12,000 salary allowance. Capital balances on January 1, 2011, are as follows Ell: $69,000 Far: $85,500 Gar: S245,500 During 2011, Gar invested an additional S20,000 in the partnership, and Ell and Far each withdrew S12,000, equal to their salary allowances as provided by the profit- and loss-sharing agreement The partnership net assets at December 31, 2011, were $481,000 REQUIRED Prepare a statement of partnership capital for the year ended December 31, 2011