On December 31, 2020, Jm Avery and Mike Macy age to contine the sole proposta per the balance sheet on December 31 shows as w (Click on the icon to view the balance sheet) Required Php php bance sheet at December 31, 2000, in report format uning two colum 2. Asume Job Abery warts to you the partnership by paying $218.000 for a 1/4 entry in recont Abery's trison to the partnership on January 1.2021 3 What percentage of the profits wil Jobo Abey receive after become parter? t The partnership equity beds as is $800,000, and Jen Avery and Main Macy shared prots 40 percent on and 60 percent for Macy Prepare the journa x Balance sheet Requirement 1. Prepare the parbership halance shout at December 31, 2020, sport format uning two couns Assets Liabilities Avery and Mary December 31, 2000 Avery's Business Current Market Macy's Business Current Market Ass Cash Book Value Book Value Value 30000 30,000 340001 34,000 116 000 100000 46.000 41,000 250,000 231,000 171,000 1000 Equipment 817000 552,000 271.000 307,000 $100,000 $ 90,000 $525,000 563,000 Assets a Liabilities and Owner's Equity Accounts payab Accrued expenses p Jm Avery copal Mas Macy capt 1,000,000 5 90.000 S 125.000 14.500 210 000 125.000 14500 270.000 3 570001 14500 57,000 14300 615.500 500 500 431:500 585.000 Total bits and easy C PM 242022