2018 Jan 1 Beech and Kamp agree to accept Heidi Naeem into the partnership with a $185,000 investment for 30 percent of the business. The partnership agreement is amended to provide for the following sharing of profits and losses: Beech Kamp Naeem $ 95,000 $ 125,000 $ 80,000 Service Interest on capital balance before allocation of income Balance of ratio of 896 8% 8% 3 2 5 Dec. 31 The partnership's reported net income was $465,000 2019 Oct 10 Beech withdrew $87,000 cash from the partnership and Kamp withdrew $61,000 (Naeem did not make any withdrawals) The partnership's reported net income was $275,000 Dec 31 2020 Jan 2 After a disagreement as to the direction in which the partnership should be moving, Naeem decided to withdraw from the partnership. The three partners agreed that Naeem could take cash of $303,571.36 in exchange for her equity in the partnership 2018 Jan 1 Beech and Kamp agree to accept Heidi Naeem into the partnership with a $185,000 investment for 30 percent of the business. The partnership agreement is amended to provide for the following sharing of profits and losses: Beech Kamp Naeem $ 95,000 $ 125,000 $ 80,000 Service Interest on capital balance before allocation of income Balance of ratio of 896 8% 8% 3 2 5 Dec. 31 The partnership's reported net income was $465,000 2019 Oct 10 Beech withdrew $87,000 cash from the partnership and Kamp withdrew $61,000 (Naeem did not make any withdrawals) The partnership's reported net income was $275,000 Dec 31 2020 Jan 2 After a disagreement as to the direction in which the partnership should be moving, Naeem decided to withdraw from the partnership. The three partners agreed that Naeem could take cash of $303,571.36 in exchange for her equity in the partnership