Veda Storey and Gordon Rogers have a partnership agreement with the following provisions for sharing profit or loss:

1.		A salary allowance of $30,700 to Storey and $39,500 to Rogers
2.		An interest allowance of 5% on capital balances at the beginning of the year
3.		The remainder to be divided between Storey and Rogers on a 2:3 basis

The capital balances on January 1, 2021, for Storey and Rogers were $83,000 and $99,000, respectively. For the year ended December 31, 2021, the Oriole Partnership had sales of $338,000; cost of goods sold of $246,000; operating expenses of $128,000; V. Storey drawings of $23,400; and G. Rogers drawings of $31,500.

1. Prepare a schedule to show how the profit or loss will be allocated to the two partners. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

2. Prepare a statement of partners equity for the year.

3. Prepare closing entries at December 31. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)