Veda Storey and Gordon Rogers have a partnership agreement with the following provisions for sharing profit or loss: 1. 2. Asalary allowance of $ 30,100 to Storey and $ 39,600 to Rogers An interest allowance of 6% on capital balances at the beginning of the year The remainder to be divided between Storey and Rogers on a 2:3 basis 3. The capital balances on January 1, 2021, for Storey and Rogers were $ 77,000 and $ 95,000, respectively. For the year ended December 31, 2021, the Crane Partnership had sales of $ 343,000, cost of goods sold of $ 252,000; operating expenses of $ 126,000: V.Storey drawings of $ 25,000; and G. Rogers drawings of $ 31,900. Prepare an income statement for Crane Partnership for the year. (Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses e.g. (45)) CRANE PARTNERSHIP Income Statement $ $ CRANE PARTNERSHIP Division of Loss V. Storey G. Rogers Total $ Loss I Salary allowance V. Storey G. Rogers Total Deficiency remaining for allocation Interest allowance V.Storey G. Rogers Total Total Deficiency remaining for allocation Fixed ratio I V. Storey G. Rogers Total Loss remaining for allocation $ $ $ Loss allocated to the partners Prepare a statement of partners' equity for the year. CRANE PARTNERSHIP Statement of Partners' Equity V. Storey G. Rogers Total $ $ $ $ Prepare closing entries at December 31. (Credit account titles are automatically indented when the amount is entered. Do not indent Prepare closing entries at December 31. (Credit account titles are automatically indented when the amount is entered. Do not manually) Date Account Titles and Explanation Debit Credit Dec. 31 (To close revenue account.) Dec. 31 (To close expense accounts.) Dec. 31 (To close Income Summary.) Dec. 31