Cheatem, Fleecem and Robbem are partners in a law fim. The partnership agreement states they will be allocated salaries of $30,000, $50,000 and $70,000 respectively. In addition, each will be paid interest of 10% on their beginning capital balances (listed below). Any excess or deficit will be shared at a ratio of 2:1:1. Beginning capital balances: $ Cheatem Fleecem Robbem 250,000 200,000 150,000 Instructions: a. b. Worksheet provided, calculate each partner's share of profits assuming that net income is $370,000 for the year. Based upon your answer in 1 above, compute Cheatem's ending capital balance if his drawing account had a balance of $140,000 for the year