Please use excel and show calculations.

ACCT 660 Net income for Levi distribute partnership net income n-Tom partnership for 2016 was $150,000. Levin and Tom have agreed to according to the following plan: Levin Tom Interest on average capital balances Bonus on net income before the bonus but after interest on average capital balances Salaries Residual (if positive) Residual (if negative) 796 796 12% $40,000 60% 50% $50,000 40% 50% Additional Information for 2016 follows 1. Levin began the year with a capital balance of $80,000. 2. Tom began the year with a capital balance of $100,000. 3. On March 1, Levin invested an additional $25,000 into the partnership. 4. On October 1, Tom invested an additional $20,000 into the partnership. 5. Throughout 2016, each partner withdrew $250 per week in anticipation of partnership net income. The partners agreed that these withdrawals are not to be included in the computation of average capital balances for purposes of income distributions. Required: a. Prepare a schedule that discloses the distribution of partnership net income for 2016. Show supporting computations in good form. b. Prepare the statement of partners' capital at December 31,2016