After closing the revenue and expense accounts, the prot for the year ended December 31, 2021 of the Mitt & Ryan partnership is $25,100. The partnership agreement species that prots and losses will be shared using the following formula. 1. Allocate prot by a 5% interest allowance on the partners' beginning capital balances. 2. Allocate salary allowances of $17,990 to Mitt and $12,890 to Ryan. 3. Remaining profit (loss) is to be shared on a ratio of 8:5. At the beginning of the year, Mitt's capital account had a balance of $30,200 and Ryan's capital account had a balance of $32,300. Mitt withdrew $1,010 cash per month while Ryan withdrew $1,210 per month from the partnership. During the year, Mitt made an additional investment of $5,100 cash into the partnership. Division of Profit Year Ended December 31, 2021 Mitt Ryan Total Profit Interest allowance Mitt Ryan Total Profit remaining for allocation Salary allowance Mitt Ryan Total Profit (deficiency) remaining for allocation Fixed ratio Mitt Ryan Total Profit remaining for allocation Profit allocated to the partners tA