D E F 6 H 1 Batman, Spiderman and Mr. Freeze are partners in the accounting firm of 2 BSF-CPA 3 They share profits and losses as follows: 4 Spiderman 40% 5 Batman 50% 5 Mr. Freeze 10% 7 & Partners receive 12% interest on their beginning of the year capital balance 9 Mr. Freeze receives a $30,000 salary while Batman and Spiderman each receive $40,000 salaries 20 All 3 take their salary in cash. 1 In addition, Mr. Freeze takes $1000 out of the partnership each month to pay for his tanning-salon membership, 2 At the beginning of 2017 they had the following capital balances; 14 $1,00,000 $4,00,000 $5,00,000 15 Batman 26 Spiderman 7 Mr. Freeze 18 In 2017 BSF had revenue of $250,000 eo In 2018 BSF had revenue of $100,000 1 In 2019 BSF had revenue of $300,000 12 - REQUIRED: A) DETERMINE THE DISTRIBUTION OF INCOME TO EACH PARTNER IN 2017, 2018 AND 2019 B) DETERMINE THE ENDING CAPITAL BALANCE OF EACH PARTNER AT THE END OF 2017, 2018 AND 2019 24 5