3 4 no e comparative balance sheets for Wasim Company Wassim Company 4 3 Comparative Balance Sheets December 31 Asta 2021 2020 Cash $85.000 $ 22.000 Accounts receivable 35.000 76,000 Inventory 175.000 189.000 80.000 100.000 Equipment 200,000 Accumulated depreciation equipment (61.000) (32.000) Total $614.000 5555.000 Liabilities and Stockholders qui Accounts payable $39.000 $ 47,000 Bonds payable 150.000 200,000 Common stock (Si par 238.000 174,000 Retained earnings 199,000 134.000 5614.000 3355,000 Additional information: (1). Net income for 2001 was 599,000 2 Cash dividends of S34.000 were declared and paid 13. Bend payable amounting to $50.000 were todeemed for canle $50,000. 17). Common stock was issued for $52.000 cash 3. No equipment was sold during 201, but land was sold at cost. Instruction Prepare a statement of cash flows for 2021 ssing the indirect method. 010-Khalid Al Abs (beginning capital 55000) and Maid Al Ruwahi beminning capital S80,000) are partners. During 2020, the partnership caned net income of S60,000, and Khalid made drawings of S15,000 while Majid made drawings of 520.000 Instructions (a). Assume the partnership income-sharing agreement calls for income to be divided 69% to Khalid and 38% Mod Prepare the journal entry to record the allocation of net income (). Assume the partnership income-sharing agreement calls for income to be divided with a salary of $35,000 to Khalid and $20,000 to Majid Al Rawahi, with the remainder divided 69% Khalid Al Ahland 38% to Majid Al Ruwahi. Prepare the journal entry to record the allocaties of satincome Total Id. Assume the partnership income sharing a comentcalls for income to be divided with a salary of $45.000 to Khalid Al Ahri and 530.000 to Majid Al Rawahi, interest of 10% on beginning capital and the remainder divided 50%-50% Prepare the journal entry to record the allocation of net income (d). Compute the partners ending capital balances under the assumption in part (c)