Green Solutions is a partnership owned by F. Sabac and S. Hilton. At January 1, 2011 the partner's capital accounts were: F. Sabac, $16,500 and S. Hilton $12,300. During 2011, Hilton contributed to the business equipment with a fair value of $5,600. Each partner withdrew $50,000 during the year and the profit was $141,900, as a result of $400,600 in revenue and operating expenses of $258,700. The partners share profit on a 2:1 ratio (Sabac:Hilton). Instructions (a) Prepare the statement of partners' equity for the year ended December 31, 2011. Prepare a partial balance sheet, showing the partners' equity section. (b) Prepare closing entries for the December 31, 2011 year end.