Faith Busby and Jeremy Beatty started the B&B partnership on January 1, Year 1. The business acquired $85,800 cash from Busby and $174,200 from Beatty. During Year 1, the partnership earned $60.000 in cash revenues and paid $42.000 for cash expenses. Busby withdrew $2.400 cash from the business, and Beatty withdrew $2,900 cash. The net income was allocated to the capital accounts of the two partners in proportion to the amounts of their original investments in the business B&B PARTNERSHIP Balance Sheet As of December 31, Year 1 Assets Cash $ 272,700 $ 272,700 Total assets Liabilities Equity 1 Total Total liabil 2