1. A partnership has the following accounting amounts:

Sales Php 700,000

Cost of Goods sold 400,000

Operating Expenses 100,000

Salary allocations to partners 130,000

Interest paid to banks 20,000

Partners' drawings 80,000

What is the partnership income (loss)?

2. On April 30, 2020, Al, Ben, and Ces formed a partnership by combining their separate business proprietorship. Al contributed cash of Php 50,000. Ben contributed property with a Php 36,000 carrying amount, a Php 40,000 original cost, and Php 80,000 fair value. The partnership accepted responsibility for the Php 35,000 mortgaged attached to the property. Ces contributed equipment with a Php 30,000 carrying amount, a Php 75,000 original cost, and Php 55,000 fair value. The partnership agreement specifies that profits and losses are to be shared equally but is silent regarding capital contributions. Which partner has the largest capital account balance at April 30, 2020?