Case 1 Below is the adjusted trial balance for the partnership of J, K and L. group of CPA's in the practice of their profession. JKL Partnership Adjusted Trial Balance Year Ended December 31, 2019 95,980 167,850 10,240 24,120 18,090 788,650 Cash Accounts Receivable Allowance for Doubtful Accounts Supplies Prepaid Insurance Furniture and Equipment Accumulated Depreciation - F&E Accounts Payable Salaries Payable Utilities Payable J. Capital K. Capital L. Capital J. Drawing K. Drawing L. Drawing Professional Service Fees Salaries Expense Rent Expense Utilities Expense Miscellaneous Expense Interest Income Interest Expense Total 70,600 19,460 11,150 12.700 350,000 350,000 200,000 52,000 50,000 30,000 736,700 353,470 98,000 76,140 8,270 7,440 5,720 1,768.290 1,768,290 Additional Information: The profit and loss agreement of the partners is as follows: i Interest of 10% is to be paid on their beginning capital balances; ii. The partners are entitled to salary allowances of 25,000, 20,000 and 20,000, respectively, Remaining balance is to be divided 4:3:3 III. Required: Prepare the following financial statements: 1. Statement of Income, with a schedule showing distribution of profits 2. Statement of Changes in Partner's Equity 3. Statement of Financial Position no