• Determine each partner’s share of income assuming the partners agree to share income by giving a $27,000 per year salary allowance to Price, a $50,000 per year salary allowance to Waterhouse, a $46,000 per year salary allowance to Coopers, a 15% interest on their initial capital investments, and the remaining balance shared equally. 2. Prepare a statement of partners’ equity for the year ended December 31.