On January 1, 2020, the dental partnership of Angela, Diaz, and Krause was formed when the partners contributed $41,000,

[answerhappygod]

On January 1, 2020, the dental partnership of Angela, Diaz, andKrause was formed when the partners contributed $41,000, $69,000,and $71,000, respectively. Over the next three years, the businessreported net income and (loss) as follows: 2020 $ 81,000 202153,000 2022 (36,000 ) During this period, each partner withdrewcash of $13,000 per year. Krause invested an additional $8,000 incash on February 9, 2021. At the time that the partnership wascreated, the three partners agreed to allocate all profits andlosses according to a specified plan written as follows: Eachpartner is entitled to interest computed at the rate of 10 percentper year based on the individual capital balances at the beginningof that year. Because of prior work experience, Angela is entitledto an annual salary allowance of $11,000 per year, and Diaz isentitled to an annual salary allowance of $10,100 per year. Anyremaining profit will be split as follows: Angela, 20 percent;Diaz, 45 percent; and Krause, 35 percent. If a net loss remainsafter the initial allocations to the partners, the balance will beallocated: Angela, 30 percent; Diaz, 55 percent; and Krause, 15percent. Prepare a schedule that determines the ending capitalbalance for each partner as of the end of each of these threeyears.