Problem 2-4 Aquino, Castro and Modesto, who are partners in Cebu Superstore, share profits in the ratio of 30:30:40. The adjusted trial balance on Dec. 31, 2021 follows: Credits Debits P 150,000 100,000 665,000 20,000 15,000 Cash Accounts Receivable Merchandise Inventory Prepaid Rent Prepaid Insurance Accounts Payable Notes Payable Aquino, capital Castro, capital Modesto, capital Sales Cost of sales Salaries Expense Rent Expense Insurance Expense Utilities Expense Totals P 60,000 80,000 120,000 280,000 110,000 2,450,000 1,420,000 460,000 210,000 35,000 25,000 P3.100.000 P3.100.000 Additional information: Aquino had a capital balance of P75,000 at Jan. 1, 2021 and he invested an additional P45,000 during the year. Castro's beginning capital balance was P300,000 and he withdrew P50,000 bu invested an additional P30,000. Modesto's capital balance on Jan. 1, 2021 was P150,000 and he withdrew P40,000. Required: 1. Prepare the 2021 statement of comprehensive income. Show the division of profit at the lower portion of the statement. 2. Prepare the statement of changes in partners' equity for 2021. 3. Prepare the statement of financial position as at Dec. 31, 2021. 46