Price, Waterhouse, and Coopers complete their first year of business as a partnership. The partners offer auditing, tax, and advisory services. Use the Tableau Dashboard to determine allocation of income.

1. Determine each partners share of income assuming the partners agree to share income by giving a $27,000 per year salary allowance to Price, a $50,000 per year salary allowance to Waterhouse, a $46,000 per year salary allowance to Coopers, a 15% interest on their initial capital investments, and the remaining balance shared equally. 2. Prepare a statement of partners equity for the year ended December 31.

Price: 20,000 Waterhouse: 30,000 Coopers: 50,000 advisory service Revenues: 130,000 Auditing revenue: 165,000 Tax service revenues: 100,000 Salaries expense: 60,000 Adv expo: 55,000 Insurance exp: 32,000 Supplie exp: 31,000 Rent exp: 34,000 PRICE owner withdraw: 2,500 WATER HOUSE owner withdraw: 3,000 COOPERS owner withdraw: 2,000 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine each partner's share of income assuming the partners agree to share income by giving a $27,000 per year salary allowance to Price, a $50,000 per year salary allowance to Waterhouse, a $46,000 per year salary allowance to Coopers, a 15% interest on their initial capital investments, and the remaining balance shared equally. (Enter all allowances as positive values. Enter losses as negative values.) Allocation of Partnership Income Price Waterhouse Coopers Total 0 Net income (loss) Salary allowances Balance of income (loss) Interest allowances Balance of income (loss) Balance allocated equally Balance of income (loss) Shares of each partner 0 0 $ 0 $ 0 0 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a statement of partners' equity for the year ended December 31. (Do not round intermediate calculations. Enter all allowances as positive values. Enter losses and withdrawals as negative values.) PRICE, WATERHOUSE, AND COOPERS Statement of Partners' Equity For Year Ended December 31 Price Waterhouse Coopers Total $ 0 Initial partnership investments Net income 0 Total net income Total 0 0 0 0 0 $ 0 HA 0 $ 0 $ 0