After closing the revenue and expense accounts, the profit for the year ended December 31, 2021 of the Mo & Molly partnership is $150,000. The partnership agreement specifies that profits and losses will be shared using the following formula. 1. Allocate salary allowances of $18,000 to Mo and $30,000 to Molly: 2. Remaining proft (loss) is to be shared on a ratio of 2:1. At the beginning of the year, Mo's capital account had a balance of $44,000 and Molly's capital account had a balance of $28,000. Mo withdrew $1,000 cash per month while Molly withdrew $2,000 per month from the partnership. Prepare a schedule to show how the profit will be allocated to the two partners. MO & MOLLY Division of Profit Year Ended December 31, 2021 Molly Profit Salary allowance Mo Molly Total Profit remaining for allocation Fixed ratio Mo Molly Total Profit remaining for allocation Profit allocated to the partners $ eTextbook and Media $ Prepare a statement of partners' equity for the year. (List items that increase partner's equity first.) MO & MOLLY Statement of Partners' Equity Year Ended December 31, 2021 eTextbook and Medla Mo Molly Total $ $