Q2, Please ASAP

-76 5 View Policies Current Attempt in Progress Veda Storey and Gordon Rogers have a partnership agreement with the following provisions for sharing profit or loss: 1 2. 3. A salary allowance of $29,500 to Storey and $39,500 to Rogers An interest allowance of 6% on capital balances at the beginning of the year The remainder to be divided between Storey and Rogers on a 2:3 basis The capital balances on January 1, 2021 for Storey and Rogers were $76,000 and $96,000, respectively. For the year ended December 31, 2021 the Sheridan Partnership had sales of $337.000: cost of goods sold of $250,000; operating expenses of $132.000: V.Storey drawings of $23.000; and G. Rogers drawings of $31.400. Prepare an income statement for Sheridan Partnership for the year. (Enter negative amounts using either a negative sign preceding the numberes. -45 or parentheses eg. (45).) SHERIDAN PARTNERSHIP Income Statement Address Question 2 of 3 - 76 Prepare a schedule to show how the profit or loss will be allocated to the two partners. (Enter negative amounts using either a negative sim preceding the numbereg.-45 or parentheses eg. (45)) SHERIDAN PARTNERSHIP Division of Loss V. Storey G. Rogers Loss $ Salary allowance V. Storey G. Rogers Total Deficiency remaining for allocation Interest allowance V. Storey G. Rogers Total Deficiency remaining for allocation Fixed ratio V. Storey G. Rogers Total Loss remaining for allocation Loss allocated to the partners Address