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Veda St provisions for sharing profit or loss: orey and Gordon Rogers have a partnership agreement with the following 1. A salary allowance of $29,100

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Veda St provisions for sharing profit or loss: orey and Gordon Rogers have a partnership agreement with the following 1. A salary allowance of $29,100 to Storey and $39,400 to Rogers 2- 2. An interest allowance of 5% on capital balances at the beginning of the year . The remainder to be divided between Storey and Rogers on a 2:3 basis 5% er 4io The capital balances on January 1. 2017, for Storey and R3gers were $84,000 and $98,000, respectively. For the year ended December 31, 2017, the Sunland Partnership had sales of $338,000; cost of goods sold of $252,000; operating expenses of $132,000; V. Storey drawings of $25,000; and G. Rogers drawings of $33,000. $08 00o m peceyaParwary a, Prepare an income statement for Sunland Partnership for the year. (Enter negative

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