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he balance in Xue's capital account includes an additional investment of $9,000 made on May 5,20Y2. 1. Prepare an income statement for 20Y2, indicating the division of net income. The partnership agreement provide Ramirez and $44,000 to Xue, allowances of 10% on each partner's capital balance at the beginning of the fiscal year income or net loss. Accumulated Depreciation-Bullding Office Equipment: Accumulated Depreciation-Office Equipment Accounts Payable Salaries Payable Camila Ramirez, Capital Camila Ramirez, Drawing Ping Xue, Capital Ping Xue, Drawing Professional Fees Salary Expense Depreciation Expense-Building Heating and Lighting Expense Depreciation Expense-Office Equipment Property Tax Expense Supplies Expense Miscellaneous Expense Print Item 56,300 41,400 17,500 26,800 2,900 90,000 40,500 54,000 58,500 327,200 131,400 13,100 6,500 4,100 8,100 4,700 574,7002,800574,700 The balance in Xue's capital account includes an additional investment of $9,000 made on May 5, 20Y2. Required: 2. Prepare a statement of partnership equity for 20Y2. If any amounts are zero, enter in " 0 ". 3. Prepare a balance sheet as of the end of 20Y2. Trial Balance December 31, 20Y2 \begin{tabular}{lrr} \hline & DebltBalances & CreditBalances \\ \hline Cash & 37,800 & \\ Accounts Recelvable & 36,000 & \\ Supplies & 1,400 & \\ Land & 90,000 & \\ Building & 98,400 & \\ Accumulated Depreciation-Building & & 17,500 \\ Office Equipment & 41,400 & 26,800 \\ Accumulated Depreciation-Office Equipment & & 2,900 \\ Accounts Payable & & 90,000 \\ Salaries Payable & & \\ Camila Ramirez, Capital & & \\ Camila Ramirez, Drawing & & \\ Ping Xue, Capital & & \\ Ping Xue, Drawing & & \\ Professional Fees & & \\ Salary Expense & 50,500 & \end{tabular} he balance in Xue's capital account includes an additional investment of $9,000 made on May 5,20Y2. 1. Prepare an income statement for 20Y2, indicating the division of net income. The partnership agreement provide Ramirez and $44,000 to Xue, allowances of 10% on each partner's capital balance at the beginning of the fiscal year income or net loss. Accumulated Depreciation-Bullding Office Equipment: Accumulated Depreciation-Office Equipment Accounts Payable Salaries Payable Camila Ramirez, Capital Camila Ramirez, Drawing Ping Xue, Capital Ping Xue, Drawing Professional Fees Salary Expense Depreciation Expense-Building Heating and Lighting Expense Depreciation Expense-Office Equipment Property Tax Expense Supplies Expense Miscellaneous Expense Print Item 56,300 41,400 17,500 26,800 2,900 90,000 40,500 54,000 58,500 327,200 131,400 13,100 6,500 4,100 8,100 4,700 574,7002,800574,700 The balance in Xue's capital account includes an additional investment of $9,000 made on May 5, 20Y2. Required: 2. Prepare a statement of partnership equity for 20Y2. If any amounts are zero, enter in " 0 ". 3. Prepare a balance sheet as of the end of 20Y2. Trial Balance December 31, 20Y2 \begin{tabular}{lrr} \hline & DebltBalances & CreditBalances \\ \hline Cash & 37,800 & \\ Accounts Recelvable & 36,000 & \\ Supplies & 1,400 & \\ Land & 90,000 & \\ Building & 98,400 & \\ Accumulated Depreciation-Building & & 17,500 \\ Office Equipment & 41,400 & 26,800 \\ Accumulated Depreciation-Office Equipment & & 2,900 \\ Accounts Payable & & 90,000 \\ Salaries Payable & & \\ Camila Ramirez, Capital & & \\ Camila Ramirez, Drawing & & \\ Ping Xue, Capital & & \\ Ping Xue, Drawing & & \\ Professional Fees & & \\ Salary Expense & 50,500 & \end{tabular}