Current Attempt in Progress Veda Storey and Gordon Rogers have a partnership agreement with the following provisions for sharing profit or loss: 1. 23 A salary allowance of $29,800 to Storey and $40,500 to Rogers An interest allowance of 5% on capital balances at the beginning of the year 3. The remainder to be divided between Storey and Rogers on a 2:3 basis The capital balances on January 1, 2021, for Storey and Rogers were $84,000 and $101,000, respectively. For the year ended December 31, 2021, the Pharoah Partnership had sales of $345,000; cost of goods sold of $251,000; operating expenses of $135,000; V. Storey drawings of $25,000; and G. Rogers drawings of $31,100. - Your answer is partially correct. Prepare an income statement for Pharoah Partnership for the year. (Enter negative amounts using either a negative sign preceding the number e.g.-45 or parentheses e.g. (45).) PHAROAH PARTNERSHIP Income Statement Year Ended December 31, 2021 Sales 345000 Cost of Goods Sold Profit/(Loss) -251000 94000 Operating Expenses 135000