Keith Williams and Brian Adams were students when they formed a partnership several years ago for a part-time business called Music Works. Adjusted trial balance Information for the year ended December 31, 2020. appears below. Account Ancounts payable Related depreciation San Adana, sapital- Erian Adams, withdrawals Recount Twith Wallan cupatal Balance $10,200 82,000 29,000 67.000 216,400 216.000 109,000 Balance $ 35,900 57.000 134,000 28.000 494,000 1. 900 Note payable, dun May 2022 Oftsce supplies Reves Desi papale Equipment Expenses 'Assume all account balances are normal The partners made no Investments during the year ***$47,000 of the note payable is due in May 2021. Required: 1. Prepare calculations that show how the profit should be allocated to the partners assuming the partnership agreement states that profit(losses) are to be shared by allowing a $97.000 per year salary allowance to Williams, a $157000 per year salary allowance to Adams, and the remainder on a 3.2 ratio (Leave no cell blank. Enter"0" when the answer is zero.) Profit 5 sty allowance Balance of profitte be allocated Dalane allocated on 32 ratio Balance of prote Shes of the partners Total 5 291.000 103.000s 183 000 200.000 3 125,000 75.000 50.000 120.0001 $ 0 178.000 $213.0005 381.000 Keith Williams and Brian Adams were students when they formed a partnership several years ago for a part-time business called Music Works. Adjusted trial balance Information for the year ended December 31, 2020. appears below. Account Ancounts payable Related depreciation San Adana, sapital- Erian Adams, withdrawals Recount Twith Wallan cupatal Balance $10,200 82,000 29,000 67.000 216,400 216.000 109,000 Balance $ 35,900 57.000 134,000 28.000 494,000 1. 900 Note payable, dun May 2022 Oftsce supplies Reves Desi papale Equipment Expenses 'Assume all account balances are normal The partners made no Investments during the year ***$47,000 of the note payable is due in May 2021. Required: 1. Prepare calculations that show how the profit should be allocated to the partners assuming the partnership agreement states that profit(losses) are to be shared by allowing a $97.000 per year salary allowance to Williams, a $157000 per year salary allowance to Adams, and the remainder on a 3.2 ratio (Leave no cell blank. Enter"0" when the answer is zero.) Profit 5 sty allowance Balance of profitte be allocated Dalane allocated on 32 ratio Balance of prote Shes of the partners Total 5 291.000 103.000s 183 000 200.000 3 125,000 75.000 50.000 120.0001 $ 0 178.000 $213.0005 381.000