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Question 1 Juanita Gomez and Brandi Toomey have formed the GT Partnership, and have capital balances of $130,000 and $100,000, respectively, on January 1, 2017.

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Question 1 Juanita Gomez and Brandi Toomey have formed the GT Partnership, and have capital balances of $130,000 and $100,000, respectively, on January 1, 2017. On June 1, 2017, Toomey invested an additional $30,000. Also during the year, Gomez withdrew $60,000 and Toomey withdrew $48,000. Sales for the year amounted to $360,000 and expenses were $240,000. Gomez and Toomey share income and losses on a 3:1 basis

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