Clint Eastwood and Brad Pitt have a partnership agreement that includes the following provisions regarding sharing profit or loss: 1. A salary allowance of $27 , 000 to Clint and $14 , 000 to Brad. 2. An interest allowance of 8% on capital balances at the beginning of the year. 3. The remainder to be divided 40% to Clint and 60% to Brad. The capital balances on January 1, 2020, for Clint and Brad were $52 , 000 and $79 , 000 , respectively. During 2020, the Clint and Brad Partnership had sales of $333 , 000 , cost of goods sold of $265 , 000 , and operating expenses of $22 , 000 . Instructions Prepare an income statement for the Clint and Brad Partnership for the year ended December 31,2020 . As a part of the income statement, include a division of profit to each of the partners and calculate their ending capital balances. le capital balances on January 1, 2020, for Clint and Brad were $52 , 000 and $79 , 000 , respectively. uring 2020 , the Clint and Brad Partnership had sales of $333 , 000 , cost of goods sold of $265 , 000 , and operating expenses of $22 , 000 . instructions Prepare an income statement for the Clint and Brad Partnership for the year ended December 31 , 2020. As a part of the income statement, include a division of profit to each of the partners and calculate their ending capital balances. During 2020, the Clint and Brad Partnership had sales of $333 , 000 , cost of goods sold of $265 , 000 , an operating expenses of $22 , 000 . Instructions Prepare an income statement for the Clint and Brad Partnership for the year ended December 31, 2020. As a part of the income statement, include a division of profit to each of the partners and calculate their ending capital balances. operating expenses of $22 , 000 . Instructions Prepare an income statement for the Clint and Brad Partnership for the year ended December 3 . As a part of the income statement, include a division of profit to each of the partners and calcula their ending capital balances