Clay,Zipt and Bounds formed a new partnership on january 2, 2021 by making capital contributions of $283,200, $123,500 and $82,000 respectively. The partnership generated income for the year ended december 31,2021 of $422,000

Distribute the 2021 net income of $422,000 to the three partners assuming the partnership agreement did not specifically address the distribution of the income and loss. Show supporting calculations and amounts allocated to each partner. Distribute the 2021 net income of $422,000 to the three partners in the ratio of their initial capital investments. Show supporting calculation and amounts allocated to each partner. Distribute the 2021 net income of $422,000 to the three partners as follows: A.Salary allowances of $100,000 to clay, $85,000 to Zipt, $74,000 to Bounds B. Interest Allowances of 10% of their initial capital investments C. Remainder shared equally Show supporting calculations and amounts allocated to each partner. Prepare a statement of partners equity using the net income allocation specified in requirement 3 above. The partners made the following withdrawals from the partnership during 2021: Clay $50,000, Zipt $40,000, And bounds $45,000

Subject: Accounting II

Really after Question 3 but all would be so helpful with work shown thank you so much! I dont get how you get the ratio of their initial investments the most but all answers would help me so much:)