NO3 Two partners Joe and fill of "Joes and Jille Chocolate Shop one sharing their profile equally, the partnership Started on Jan 2020. The following clata were available.. Balance Jan 1 2020 Joe) Jill \) 0 Additional Investments 100 Drawings Net Income for the year ? LOST 50 20 250 280 ing and quirem. ute cafs poel's $12.5 mean Balance Dec 31, 2020 Answer the following questions and make sure to Show? all your Calculations and formulae used. @ What is the Net Income of the Company. Assume that income for the Company was tax free (thus tax expense was zero), and that interest expense for the " Company was zero during the tear Hint: This means that EBIT = Net Income (as Calculated in (a), to simplify things) let's also assume that Long term habchtes Z The St 1803 pred non Current habhties 500 100 Gross profit 800 Cost of Good Sold 300 P.T.O 140 only