Name: PART A: Partnerships (15 marks) A. Tracey and B.G. Malicki began a partnership by investing $10,000 and $90,000 respectively. For the year-ended, September 30, 2020, the partnership earned profits of $100,000. Using the information given, answer the three questions given LABEL AND SHOW ALL CALCULATIONS for each question Additional Information: Partnership Agreement The partnership agreement states that partners will share income by allowing an $85,000 per year salary allowance to Tracey and a $15,000 per year salary allowance to Malick! . 10% interest allowance on beginning capital balances and IN the remainder equally 1 1. Using the chart below, prepare the calculations that show how the income should be allocated to the partners following the above plan. (10 marks) TRACEY & MALICKI LTD. DIVISION OF PROFIT TRACEY MALICK PROFIT TO BE ALLOCATED TOTAL $100,000 PROFIT ALLOCATED TO THE PARTNERS 2. Prepare the closing entry that distributes the profit among the partners' capital secounts (3mrks)