Problem 2-3 Manuel and Albert are partners that had the following transactions in 2021: Manuel Albert Debit Debit Credit Credit P135,000 P140,000 P40,000 60,000 80,000 Balance, January 1, 2021 February 28 March 31 April 30 June 30 August 31 September 30 October 31 P50,000 70,000 20,000 20,000 The Income Summary account has a credit balance of P500,000. Required: Prepare a statement of profit distribution for each of the following independent profit- sharing agreements: 1. In the average capital ratio. 2. Interest on average capital at 10%, salaries of P60,000 and P100,000 to Manuel and Albert, respectively, a bonus to Manuel at 25% of net income after interest and salaries but before bonus, and the balance equally. 3. Interest at 9% on the amount by which the ending capital balance exceeds the beginning balance and the balance equally. 4. Balence of P80,000 and P120,000 to Manuel and Albert, respectively; a bonus to Manuel salarios of 25% of net income after salaries and bonus, and the balance equally. 45