PROBLEM 1 - 19 Yael, a partner in Sponge Cola Partnership, has a 30% participation in partnership profits and losses. Yael's capital account had a net decrease of P60,000 during the calendar year 2018. During 2018, Yael withdraw P130,000 (charged against his capital account) and contributed property with agreed valued of P25,000 to the partnership. The accumulated depreciation of property is P5,000. 2. Mo, b. 233,337 Required: The net income of partnership for 2018 is