Answer in an excel template

PR 12-3B Financial statements for partnerships 00.2,5 The ledger of Camila Ramirez and Ping Xue, attomeys-at-law, contains the following accounts and balances after adjustments have been recorded on December 31, 20Y2: Chapter 12 Accounting for Partnerships and Limited Lability Companies 625 The balance in Xue's capital account includes an additional imvestment of $20,000 made on May 5,20Y2. Instructions 1. Prepare an income statement for 20Y2, indicating the division of net income. The part: nership agreement provides for salary allowances of 550.000 to Ramiree and 565.000 to Xue, allowances of 1246 on each partner's capital balance at the beginning of the fiscal year, and equal division of the remaining net income oe net loss 2. Prepare a statement of partnership equity for 20y2. 3. Prepare a balance sheet as of the end of 20y2