The December 31, 2013 balance sheet for the Greystone Partnership appears below:

Additional information:
1. The partners agreed that each will earn 6 percent interest on his or her beginning-of-year capital balance.
2. Salaries are as follows: Burstein, $30,000; Reeves, $40,000; and Sills, $20,000.
3. Sills is to receive a bonus of 10 percent of income before salaries, bonus, and interest to partners.
4. Any income remaining after salaries, bonus, and interest to partners is to be allocated equally.
5. During 2013, Burstein withdrew $6,600 from the firm. All other allocations to Burstein for salary, interest, and profit were retained in the business.
6. Reeves withdrew all but $20,000 of 2013 allocations.
7. In 2013 Sills withdrew $30,000 and all salary, bonus, interest, and profit allocations.
8. Total capital investment at the beginning of the year was $240,000.
9. Income for 2013 after deducting interest to partners but before deductions for salaries and bonus was $200,000.
Required
a. Calculate the capital balances at January 1,2013.
b. Prepare a schedule of changes in capital accounts for the partners in the Greystone Partnership for 2013.

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GREYSTONE PARTNERSHIP Balance Sheet December 31, 2013 Assets Liabilities and Capital 20,000 Accounts payable....$120,000 Accounts receivable...00,000 Long-term liabilities200,000 -Burstein.110,000 250,000 Cpital-Reeves.. 160,000 10,000 Equipment170,000 Capita Buildings.2 Total assets ......$600,000 Total liabilities and capital$600,000