After closing the revenue and expense accounts, the prot for the year ended December 31, 2021 of the Mo & Molly partnership is $111,000. The partnership agreement species that prots and losses will be shared using the following formula. 1. Allocate salary allowances of $21,000 to M0 and $33,000 to Molly. 2. Remaining prot (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 $30,000 and Molly's capital account had a balance of $24,000. Mo withdrew $1,600 cash per month while Molly withdrew $3,200 per month from the partnership. Prepare a schedule to show how the prot will be allocated to the two partners. MO & MOLLY Division of Prot Year Ended December 31, 2021 Mo Molly Total Prot $ $ $ Salary allowance Mo Molly Total Prot remaining for allocation Fixed ratio Mo Molly Total Prot remaining for allocation Prot allocated to the partners $ $ $