In January 19X1, Sisay Hailu and Gelane Jalene agreed to produce and sell Soaps. Sisay contributed br. 240,000 in cash to the business. Gelane contributed the building and equipment, valued at Br. 220,000 and Birr. 140,000, respectively. The partnership had an income of Birr 84,000 during 19X1 but was less successful during 19X2, when income was only Br. 40,000. Prepare the journal entry to record the investment of both partners in the partnership Determine the share of income for each partner in 19X1 under each of the following conditions: The partners agreed to share income equally. The partners failed to agree on an income- sharing arrangement. The partners agreed to share income according to the ratio of their capital investments The partners agreed to share income by allowing interest of 10% on their original investments and dividing the remainder equally. The partners agreed to share income by allowing salaries of Birr 40,000 for Sisay and Br. 28,000 for Gelane, and dividing the remainder equally.