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Tyler Glligan and Matt Meinyk, two college friends, decided to set up a snow removal business called Crane Snow Removal Services. At the inceptlon of the partnership, Tyler invested $4,000 cash and Matt invested $11,000 cash. Once formed, the partnership purchased equipment and a vehicle. Tyler estimates that the equipment purchased for $2,000 and the vehicle purchased for $10,000. have five-year useful lives, with no residual value. He used the straight-line method to calculate depreciation expense. At the end of the first year of business, Tyler, who was studying accounting. provided the following information: Additional information: 1. Salaries expense is $19,330 and $11,410 cash that was paid to Tyler and Matt, reipectively, during the year. 2. All revenues were collected in cash. 3. Al supplies were paid for in cash. At the end of the year, there were no supplies on hand. 4. Thereis $15,770 in the bank account at December 31,2021 . Prepare a joumal entry to correct the errors, If any, on the income statement. (Credit occoumt titles are outomoticaliy indented when the amount is entered. Do not indent monually) eTextbook and Media Calculate the correct profit and the amount to be allocated to each partner. Prepare astatement of partners' equity for the year ended December 31, 2021. (List itens that increase partner's equity irst