The balance in Yost's capital account includes an additional investment of $10,000 made on April 10, 2016. Prepare an income statement for 2016, indicating the division of net income the partnership agreement provides for salary allowances of $45,00 to Lambert and $54.700 to Yost, allowances of 10% on each partner's capital balance at the beginning of the fiscal year, and equal division of the remaining net income or net loss. Prepare a statement of partnership equity for 2016. Prepare a balance sheet as of the end of 2016. Musa Mosher ami Shaniqua Hollins have operated a successful firm for many years. sharing net income and net losses equally. Taylor Anderson is to he admitted to the partnership on July 1 of the current year. in accordance with the following agreement Assets and liabilities of the old partnership are to be valued at their book values as of June 30, . except for the following