Steele is invited to join the partnership on January 1, 2020. Because of her business reputation and financial expertise, she is given a 40 percent interest for $63,000 cash. The bonus approach is used to record this investment, made directly to the business. The articles of partnership are amended to give Steele a $3,000 compensation allowance per month and an annual cash drawing of $14,000. Remaining profits are now allocated: Gorman Morton Steele 10% 50 40 All drawings are taken by the partners during 2020. At year-end, the partnership reports net income of $102,000. On January 1, 2021, Frank (previously a partnership employee) is admitted into the partnership. Each partner transfers 10 percent to Frank, who makes the following payments directly to the partners: Gorman Morton Steele $ 8,207 7,955 13,188 Once again, the articles of partnership must be amended to allow for the entrance of the new partner. This change entitles Frank to a compensation allowance of $700 per month and an annual drawing of $6,000. Profits and losses are now assigned as follows: Gorman 14.0% Morton 42.0 34.0 10.0 Steele Frank For the year of 2021, the partnership earned a profit of $49,900, and each partner withdrew the allowed amount of cash. Prepare schedules that determine the capital balances for the individual partners as of the end of each year 2019 through 2021