The ledger of Tyler Lambert and Jayla Yost, attomeys-at-law, contains the following accounts and balances after adjustments have been recorded on December 31, 2013: Lambert and Yost ADJUSTED TRIAL BALANCE December 31, 2013 ACCOUNT TITLE CREDIT DEBIT 35,800.00 1 Cash Accounts Receivable 47,500.00 Supplies 2,000.00 4 Land 120,500.00 157,200.00 Building Accumulated Depreciation Building 67,700.00 Office Equipment 65,500.00 Accumulated Depreciation Office Equipment 21,900.00 Accounts Payable 2400.00 Salaries Payable 300.00 134500.00 11 Tyler Lambert, Capital Terlambert, Drawing 1 sayla Yost, Capital 50 100.00 37,600.00 laya Yost, Drawing 59,500.00 Instructions 59,500.00 392,600.00 154,100.00 14 layla Yost, Drawing 15 Professional Fees 15 Salary Expense 13 Depreciation Expense-Building 13 Property Tax Expense 19 Heating and Lighting Expense 20 Supplies Expense 2 Depreciation Expense-Office Equipment 22 Miscellaneous Expense 15,300.00 12,000.00 8,200.00 6,000.00 4,800.00 3,600.00 25 Totals 737.500.00 737,500.00 The balance in Your's capital account includes an additional investment of $10.500 made on April 10, 2013 Required: 1. Prepare an income statement for 2073. Create a separate statement indicating the division of net income to the partners. The partnership agreement provides for salary allowances of $45,400 10 Lambert and $54,200 to Yost, allowances of 10% on each partner's capital balance af the beginning of the fiscal year, and equal division of the remaining net income or net loss." 2. Prepare a statement of partnership equity for 2013." 3. Prepare a balance sheet as of the end of 20Y3. *Refer to the Accounts, Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. Il a net loss is incurred or there is a decrease in partner's equity, enter that amount as a negative number using a minus sign. Accounts Labels Current assets Amount Descriptions Add partner withdrawals Balance, December 31, 2043 Balance, January 1, 2043 Accounts payable Accounts receivable Accumulated depreciation-Building Accumulated depreciation Office equipment Current liabilities Operating expenses Property, plant, and equipment Balances after realization Balances before realization Building Cash Capital additions Partner withdrawals Depreciation expense-Building Depreciation expense-Office Equipment Heating and lighting expense Jayla Yost, capital Net income Net loss Net income for the year Land Net loss for the year Miscellaneous expense Payment of liabilities Office equipment Professional fees Property tax expense Sale of assets and division of gain Total assets Total current assets Total liabilities Salaries payable Salary expense Supplies Supplies expense Total liabilities and partners' equity Total partners' equity Total Property, plant, and equipment Total operating expenses Tyler Lambert, capital 1. Prepare an income statement for 2073. Create a separate statement indicating the division of net income to the partners. The partnership agreement provides for salary allowance of 545,400 to Lambert and $54,200 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. Refer to the information given and theists of Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. If a ner loss is incurred enter the amount as a negative number using a minus sign Lambert and Yos Income Statement For the Year Ended December 31, 2013 Lambert and Yost Allocation of Net Income to Partners For the Year Ended December 31, 2043 Tyler Lambert 1 Division of net income: 3 4 Salary allowance Interest allowance Remaining income (loss) (1:1) 6 Net income 2. Prepare a statement of partnership equity for 2073. Refer to the Accounts, Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. If there is a decrease in partner's equity enter that amount as a negative number using a minus sign Lambert and Yost Statement of Partnership Equity For the Year Ended December 31, 2013 Tyler Lambert Jayla Yost Liabilities 16 (Label Partners' Equity