Prepare a schedule that determines the ending capital balance for each partner as of the end of each of these three years.

Complete this question by entering your answers in the tabs below.

Ending Capital

Balance $2020$

Ending Capital

Balance $2021$

Ending Capital

Balance $2022$

Prepare a schedule that determines the ending capital balance for each partner as of the end of $2020.($Amounts to be

deducted should be indicated with minus sign.$)$

$2020$: $$88,000$

$2021$: $$66,000$

$2022$: $(43,000)$

During this period, each partner withdrew cash of $$20,000$ per year. Krause invested an additional $$5,000$ in cash on February $9,2021.$

At the time that the partnership was created, the three partners agreed to allocate all profits and losses according to a specified 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.

Because of prior work experience, Angela is entitled to an annual salary allowance of $$14,500$ per year, and Diaz is entitled to an annual salary allowance of $$10,800$ per year.

Any remaining profit will be split as follows: Angela, $20$ percent; Diaz, $35$ percent; and Krause, $45$ percent. If a net loss remains after the initial allocations to the partners, the balance will be allocated: Angela, $30$ percent; Diaz, $45$ percent; and Krause, $25$ percent.

Prepare a schedule that determines the ending capital balance for each partner as of the end of each of these three years.