Financial Statements for Partnership The ledger of Tyler Lambert and Jayla Yost, attorneys-at-law, contains the following accounts and balances after adjustments have been recorded on December 31, 2014: .Additional investmen was io,000 Lambert and Yost Trial Balance December 31, 2014 Dabit CoditSalary allowances an Balances 34,000 47,800 2,000 120,000 157,500 5,000 for Lambert, 5 54,100 for Yost. Allowanceioje on eadh partners capital Cash Accounts Receivable Building 67200 balance 21,700 27900 Accumulated Depreciation-Building Office Equipment 63,600 Accounts Payable Salaries Payable Tyler Lambert, Capital Tyler Lambert, Drawing Jayla Yost, Capital Jayla Yost, Drawing Professional Fees Salary Expense 5,100 135,000 60000 88000 sesoo 3%,300 60,000 Property Tax Expense Heating and Lighting Expense Supplies Expense Depreciation Expense-Office Equipment Miscellaneous Expense 15,700 12000 8,500 6,000 5,000 3,600 740,200 740 200 The balance in Yost's capital account includes an additional investment of made on April 10, 2014. Instructions: Prepare an income statement for 2014, indicating the division of net income. The partnership agreement provides for salary allowances of to Lambert and to Yost, allowances of on each partner's capital balance at the beginning of the fiscal year, and equal division of the remaining net income or net loss. Prepare a statement of partnership equity for 2014. Prepare a balance sheet as of the end of 2014. 1. 2. 3