I need help with the following managerial accounting homework problem. The question is in two parts.

This is the question:

1. Prepare an income statement for 20Y3. Create a separate statement indicating the division of net income to the partners. The partnership agreement provides for salary allowances of $45,000 to Lambert and $54,700 to Yost, allowances of 10% on each partners capital balance at the beginning of the fiscal year, and equal division of the remaining net income or net loss. Refer to the Accounts, Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. If a net loss is incurred, enter that amount as a negative number using a minus sign.

Part 1:

Part 2:

3 Ater eustments ar February 8 2oy ne end onesul year or operaons e revenues were $s0o,00d and expenses were $230,000 fora ne income or $r0,000 The drawing accounts have oect balances or $1p,000 (Keene and $24 0o0 walacej Joumaize the encies to ciose ne revenues and expenses and tne arawing accounts at Fecruary 25, 20 Feer to the Cnart or Accounts or exact woroing or account aes All transactions on this page must be entered fexcept for post refis)) before you will receive Check My Work feedback. PAGE 20 OURNAL Score: 39/99 ACCOUNTING EQUIATION DATE POST RE DERIT CREDI ASSETSLIALITES EQUITY osing Entries Revenues 300,000.00 Expenses 250.00000 Eric Keene, Drawing Renee Wallace Drawing 0,000.00 19,000.00 24,000.00 Paints7.09/18 3 Ater eustments ar February 8 2oy ne end onesul year or operaons e revenues were $s0o,00d and expenses were $230,000 fora ne income or $r0,000 The drawing accounts have oect balances or $1p,000 (Keene and $24 0o0 walacej Joumaize the encies to ciose ne revenues and expenses and tne arawing accounts at Fecruary 25, 20 Feer to the Cnart or Accounts or exact woroing or account aes All transactions on this page must be entered fexcept for post refis)) before you will receive Check My Work feedback. PAGE 20 OURNAL Score: 39/99 ACCOUNTING EQUIATION DATE POST RE DERIT CREDI ASSETSLIALITES EQUITY osing Entries Revenues 300,000.00 Expenses 250.00000 Eric Keene, Drawing Renee Wallace Drawing 0,000.00 19,000.00 24,000.00 Paints7.09/18