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

1.		A salary allowance of $29,000 to Storey and $41,000 to Rogers
2.		An interest allowance of 6% 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 $81,000 and $96,000, respectively. For the year ended December 31, 2021, the Carla Vista Partnership had sales of $341,000; cost of goods sold of $251,000; operating expenses of $130,000; V. Storey drawings of $23,900; and G. Rogers drawings of $31,200.

b)Prepare a schedule to show how the profit or loss will be allocated to the two partners

c)Prepare a statement of partners equity for the year.

d)Prepare closing entries at December 31.