PR 12-3A Financial statements for partnership The ledger of Tyler Lambert and Jayla Yost, attorneys-at-law, contains the following accounts and balances after adjustments have been recorded on December 31, 20Y3 OBJ.2,5 Lambert and Yost Trial Balance December 31, 20Y3 Debit Balances 34,000 47,800 2,000 120,000 157,500 Credit Balances Cash Accounts Receivable Supplies Land Building Accumulated Depreciation-Building Office Equipment Accumulated Depreciation-Office Equipment Accounts Payable Salaries Payable Tyler Lambert, Capital Tyler Lambert, Drawing Jayla Yost, Capital Jayla Yost, Drawing Professional Fees Salary Expense Depreciation Expense-Building Property Tax Expense Heating and Lighting Expense Supplies Expense Depreciation Expense-Office Equipment Miscellaneous Expense 67.200 63,600 21,700 27,900 5,100 135,000 50,000 88,000 60,000 395,300 154,500 15,700 12,000 8,500 6,000 5,000 3,600 40200 740.200 The balance in Yost's capital account includes an additional investment of $10,000 mad on April 10, 20Y3. (Continue Accounting for Partnerships and Limited Liability Companies Instructions 1. Prepare an income statement for 20Y3, indicating the division of net income. Th partnership agreement provides for salary allowances of $45,000 t $54,7 00 to Yost, allowances of 10% on each partner's capital balance at the beginnin of the fiscal year, and equal division of the remaining net income or net loss. 2. Prepare a statement of partnership equity for 20Y3. 3. Prepare a balance sheet as of the end of 20Y3. PR 12-4A Admitting new partner Musa Moshref and Shaniqua Hollins have operated a successful firm for many years, sh OBJ nc pet income and net losses equally Taylor Anderson is to be admitted to the partnersh