The medical practice of Dr$.$ W$.$ Jarratt and Dr$.$ M$.$ Bains had the following general ledger account balances at April $30,2024,$ its fiscal year end:$12-112-312-612-812-1412-1612-20$a$.$ Calculate the profit or loss for the year.b$.$ Prepare the statement of partners' equity and the balance sheet, assuming the doctors share profit or loss equally.Record admission of partner by purchase of interest.BE$12\mathrm{.}12($LO $5)$ AP In ABC Co$.,$ the capital balances of the partners are A$.$ Ali $$30,000$; S$.$ Babson $$25,000$; and K$.$Carter $$36,000.$ The partners share profit equally. On June $9$ of the current year, D$.$ Dutton is admitted to the partnership by purchasing one$-$half of K$.$ Carter's interest for $$20,000$ paid to him personally. Journalize the admission of Dutton on June $9\mathrm{.}12-2512-36$ENGClos..$\mathrm{.}11$:$56$ AM$2024-03-19$InsDelF$12$F$10+$Accounts payable$$27,100$M$.$ Bains, drawings$$121,000$Accumulated depreciation$-$equipment$17,100$Operating expenses$149,400$Cash$36,000$Service revenue$377,000$Equipment$75,100$W$.$ Jarratt, capital$36,900$M$.$ Bains, capital$50,400$W$.$ Jarratt, drawings$127,000$