Saved Keith Williams and Brian Adams were students when they formed a partnership several years ago for a part-time business called Music Works. Adjusted trial balance information for the year ended December 31, 2020, appears below. Account Accounts payable Accumulated depreciation Brian Adams, capital Brian Adams, withdrawals Cash Equipment Expenses Balance $ 10,500 85,000 32,000 70,000 220,000 320,000 112,000 Account Keith Williams, capital Keith Williams, withdrawals Note payable, due May 2022". Office Supplies Revenues Utilities payable Balance $ 38,300 60,000 140,000 26,000 500,000 2,200 "Assume all account balances are normal. The partners made no Investments during the year *$50,000 of the note payable is due in May 2021 Required: 1. Prepare calculations that show how the profit should be allocated to the partners assuming the partnership agreement states that profit/fiosses) are to be shared by allowing a $100.000 per year salary allowance to Williams S160.000 per year salary allowance to Adams, and the remainder on a 3:2 ratio. (Leave no cell blonk. Enter "o" when the answer is tere) Williams Adams Total 3. Prepare a statement of changes in equity and a classified balance sheet. 7:32:13 MUSIC WORKS Statement of Changen in Equity For Year Ended December 31, 2020 Williams Adams Capital December 31, 2020 Total Total 5 OS 0$ 0 MUSIC WORKS Balance sheet 22 MUSIC WORKS Balance Sheet December 31, 2020 Assets 20 points Current assets 01:32:05 Total current assets Property, plant and equipment 3 D Total assets Les Current states TORE