On lanuary 1, 2023, the dental partnership of Angela, Diaz, and Krause was formed witen the partners contributed $51,000,$79,000, and $81000, respectively. Over the next three years, the business reported net income and (loss) as follows: During this period, each partner withdrew cash of $14,000 per year. Krause invested an additional $8,000 in cash on February 9,2024 . At the time that the partnership was ereated, the three partnets agreed to allocate all profits and losses according to a specificd plan Written as follows: - Each partner is entitled to interest computed at the rate of 10 percent per year based on the individual capital balances at the beginning of that year. - Becauce of prior work experience, Angela is entitied to an annual salary allowance of $16,000 per year and Diaz is entiticd to an annual salaly allowance of $11100 per yeat. - Any remaining profit will be spit as follows: Angelo, 20 percent: Daz, 35 percent, and Krause, 45 percent. If a net loss remains atter the initial allocations to the partners, the balance wil be allocated: Arigela, 30 percent, Dlaz, 45 petcent, and Krause, 25 percent. Required: Prepare a schedule that determines the endirg copital balince for each partner is of the end of each of these three years. Prepare a schedule that determines the ending capital balance for each partner as of the end of 2023. Note: Amounts to be deducted should be indicated with minus sign. Prepare a schedule that determines the ending capital balance for each partner as of the end of 2024. Note: Amounts to be deducted should be indicated with minus sign. Prepare a schedule that determines the ending capital balance for each partner as of the end of 2025. Note: Amounts to be deducted should be indicated with minus sign. Do not round intermediate calculations. Round your fin. answers to nearest dollar amounts, On lanuary 1, 2023, the dental partnership of Angela, Diaz, and Krause was formed witen the partners contributed $51,000,$79,000, and $81000, respectively. Over the next three years, the business reported net income and (loss) as follows: During this period, each partner withdrew cash of $14,000 per year. Krause invested an additional $8,000 in cash on February 9,2024 . At the time that the partnership was ereated, the three partnets agreed to allocate all profits and losses according to a specificd plan Written as follows: - Each partner is entitled to interest computed at the rate of 10 percent per year based on the individual capital balances at the beginning of that year. - Becauce of prior work experience, Angela is entitied to an annual salary allowance of $16,000 per year and Diaz is entiticd to an annual salaly allowance of $11100 per yeat. - Any remaining profit will be spit as follows: Angelo, 20 percent: Daz, 35 percent, and Krause, 45 percent. If a net loss remains atter the initial allocations to the partners, the balance wil be allocated: Arigela, 30 percent, Dlaz, 45 petcent, and Krause, 25 percent. Required: Prepare a schedule that determines the endirg copital balince for each partner is of the end of each of these three years. Prepare a schedule that determines the ending capital balance for each partner as of the end of 2023. Note: Amounts to be deducted should be indicated with minus sign. Prepare a schedule that determines the ending capital balance for each partner as of the end of 2024. Note: Amounts to be deducted should be indicated with minus sign. Prepare a schedule that determines the ending capital balance for each partner as of the end of 2025. Note: Amounts to be deducted should be indicated with minus sign. Do not round intermediate calculations. Round your fin. answers to nearest dollar amounts
