On January 1, 2020, Steve Furlong, Mark Pippy and Nick Adams agreed to form a partnership called FPA Consulting. On December 31, 2020, the partnership reported a profit for the year of $400,000. The partnership agreement is to provide for the following sharing of profit and losses: Salary allowance. Fixed ratios... Adams $ 25,000 5 Pirry $ 35,000 3 Furlong $ 45,000 2 REQUIRED: a. Prepare a schedule to show the division of profit at December 31, 2020. (5 marks) b. Prepare the journal entry to record the allocation of the partnership profit on December 31, 2020 (4 marks