The partnership of Bosch and Cutler had these balances at September 30, 2014:
Cash.......................................... $ 20,000
Service Revenue...................... $145,000
Liabilities..................................... 40,000
Bosch, Capital............................. 30,000
Cutler, Capital............................. 10,000
Total expenses............................. 85,000
Other assets............................... 120,000
Bosch gets 60 percent of profits and losses, and Cutler 40 percent. Prepare the partnership's income statement and ending Capital balances for the year ended September 30, 2014.