Help please

2. Ms. Good, Ms. Bad, and Mir. Ugly decide to form a parners se end oen's leathler goods. The name their enterprise The Good, The Bad and The Ugly. Mr. Ugly takes responsibility for management of the store. He will handle all managerial decisions like advertising, store hours, staffing, and displays. Ms. Bad is a wonder at sales. She will connect with customers and handle internet operations. Finally, Ms. Good will mostly contribute cash to start the business. She will not be part of operations. The three partners decide on the following formula to allocate income. 1 . Each partner will receive 10% return on their beginning capital account. 2. Bad and Ugly will receive salary allowances of $20,000 each. 3. Any remaining income or loss will be allocated: a. Good 2090 b. Bad c. Ugly 40% 40% Finally, Mr. Ugly has been manufacturing leather goods for some time. He has an operation that has a book value of $20,000 but has a fair value of $100,000. Ms. Good contributes $150,000 to start the business. In the first two years of operation, the partnership earns $60,000 and $200,000. Each partner withdraws $1,000 a month for the two years. Prepare a schedule allocating partnership income for the two years. Prepare the schedule showing the partnership capital accounts for the two years. a. b