Prepare an income statement for 2012, indicating the division of net income. The partnership agreement provides for salary allowances of $41,000 to Ramirez and 50,000 to Xue, allowances of 10% on each partner's capital balance at the beginning of the fiscal year, and equal division of the remaining

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The ledoer of Camia Ramirez and Ping Xue, attorneys-at-law, contains the following acceunts and balances after adjustments have been recorded on December 31 , 20r2: Camlia Famies, Capital 100,000 Camila Farnire2, Drawing 45,500 Aing Xue, Capital Ping xue, Drawing Profensional Fees Galary Cxpense Depreciation Expense-Buildirio Heating and Ughting Expense Depredation Expense-Office Equapment Property Tax Expense Supplies Expense Moscelianeouis Expense The balance in Xueis capital account includes an additionat investment of ere 30si an eadi parthers caped buarce at the begitning of the ficcal year, and equal fivison of the remairing oet income or net loss. 2. Prepare a statement of partnershig equity for 20y2. If any amounts are zero, enter in "0", 3. Frepare a balance theet as of the end of 20r. fotal eroperty, plant, and equlp. Total assets Liabilities Current llabilities: Total liabilites Partners Equity Total parthers' equity Total Iabilities and partner's' equity