NAME: SECTION: SCORE: PROFESSOR: Problem #19 Distribution of Profits or Losses Based on Partners' Agreement The partnership contract of Gadia, Penaflor and Awayan provided for the distribution of profit or loss in the following manner: 1. Bonus of 25% of profit before the bonus to Gadia. 2. Interest at 15% on average capital account balances to each partner. 3. Residual profits or losses are divided equally. Profit of Gadia, Penaflor and Awavan for 2010 was P900,000, and the average capital account balances for the year were Gadia, P1,000,000; Penaflor, P2,000,000; and Awayan, P3,000,000. Required: sho Prepare the profit distribution schedule. toate ca One be