The company incur 88,415 loss for the current year operation. Prepare an income statement of the partnership with schedule showing distribution of profits.

You were presented the below transactions for the partners' capital accounts: Jasper, Capital Elena, Capital Daisy, Capital Dr. Cr. Dr Cr. Dr. Cr. 1-Mar ? ? 1465,000 ? 809,800 429,600 1-Apr 5,000 8,000 1-Jun 10,000 20,000 1-Aug 10,000 6,000 1-Sep 3,000 1-Oct 5,000 1,000 10,000 1-Dec 4,000 5,000 50,000 The partnership agreement for P/L division includes the following: Jasper and Elena receive an annual salary of P20,000 and P10,000, respectively. Elena receives a bonus of 3% of net income before taxes but a after bonus. Daisy receives a bonus of 2% of net income before taxes but after bonus. All partners are to receive a 10% interest on their average capital balances. Remainder is divided equally. 16.75 Rew