Bonanza, LLC Statement of Members' Equity For the Years Ended December 31, 2016 and 2017 Idaho Silver Justin Properties, Holdings, Total Thomas, LLC LLC, Members Member Member Member Equity Equity Equity Equity Members' equity, January 1, 2016 $453,500 $440,500 $894,000 Net income 174,000 116,000 290,000 Members' equity, December 31, 2016 $627,500 $556,500 $1,184,000 Thomas contribution, January 1, 2017 13,740 9,160 $283,100 306,000 Net income 164,000 205,000 41,000 410,000 Less member withdrawals (59,000) (43,100) (15,200) (117,300) Members' equity, December 31, 2017 $746,240 $727,560 $308,900 $1,782,700 a. What was the income-sharing ratio in 2016? Enter the percentage per member and then select the ratio. Idaho Properties, LLC Silver Holdings, LLC Ratio 3:2 b. What was the income-sharing ratio in 2017? Enter the percentage per member and then select the ratio. Idaho Properties, LLC Silver Holdings, LLC 96 Ratio 3:2 b. What was the income-sharing ratio in 2017? Enter the percentage per member and then select the ratio. Idaho Properties, LLC Silver Holdings, LLC % Justin Thomas % Ratio 4:5:1 CHow much cash did Justin Thomas contribute to Bonanza, LLC, for his interest? d. Why do the member equity accounts of Idaho Properties, LLC, and Silver Streams, LLC, have positive entries for Justin Thomas' contribution? Justin Thomas. The positive entries to Idaho Properties and Silver Streams are the result of a bonus paid by e. What percentage interest of Bonanza did Justin Thomas acquire? f. Why are withdrawals less than net income? Withdrawals will be less when the members wish to retain capital in the business to support business growth. Feedback