f Wiley Assignments Question 2 of 3

Wiley Assignments Question 2 of 3 View Policies Show Attempt History Current Attempt in Progress Veda Storey and Gordon Rogers have a partnership agreement with the following provisions for sharing profit or loss: 4.89 / 6 1. 2. 3. A salary allowance of $30,600 to Storey and $41,000 to Rogers An interest allowance of 6% on capital balances at the beginning of the year 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 $82,000 and $102,000, respectively. For the year ended December 31, 2021, the Cullumber Partnership had sales of $339,000; cost of goods sold of $252,000; operating expenses of $131,000; V. Storey drawings of $24,800; and G. Rogers drawings of $31,800.