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Mo, Lu, and Barb formed the MLB Partnership by making investments of $67,500,$262,500, and $420,000, respectively. They predict annual partnership net income of $450.000 and

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Mo, Lu, and Barb formed the MLB Partnership by making investments of $67,500,$262,500, and $420,000, respectively. They predict annual partnership net income of $450.000 and are considering the following altemative plans of sharing income and loss. (a) equally, (b) in the ratio of their initial capital investments; or ( d salary allowances of $80,000 to Mo, $60,000 to Lu, and $90,000 to Barb; interest allowances of 10% on their Initial capital investments; and the remaining balance shared as follows: 20% to Mo, 40% to Lu, and 40% to Barb. 2. Prepare a statement of partners' equity showing the allocation of income to the partners assuming they agree to use plan (c), that ncome eamed is $209,000, and that Mo, Lu, and Barb withdraw $34,000,$48,000, and $64,000, respectively, at year-end. Note: Do not round intermedlate calculatlons. Enter all allowances as positlve values. Enter losses as negatlve values

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