Problem 4 ITA: 53(1)(e), 53(2)(c) About five years ago, Isabelle, Eden, Samara, and Joy formed a partnership to carry on a snow removal and landscape business. All the partners, except Isabelle, made an initial contribution of $40,000. Isabelle made an initial contribution of $80,000. Each agreed to share in the profits and losses of the business based on their initial capital contribution. At the end of the 2020 fiscal year of the partnership, Isabelle and Samara decided to go their separate ways. On January 1, 2021, Samara received $125,000 for her partnership interest, while Isabelle received $250,000. The tax records for the five years ended December 31, 2019 reflected the following cumulative amounts: Income (before capital gains) from operations for tax purposes $750,000 Losses 80,000 Capital gains (to 2019) 10,000 Drawings by the partners 730,000* Charitable donations (added back to Division B income for tax purposes) 15,000 * Isabelle, $170,000; Eden, $150,000; Samara, $250,000; and Joy, $160,000.15,000 Financial results for the year ended December 31, 2020, are as follows: Net income per financial statements $60,000 Charitable donations (deducted from accounting income) 2,000 Drawings: Isabelle 10,000 Samara 5,000 Eden 5,000 Joy 4,000