Susan Poole and Ann Dodd are partners in a business called Plantasia. The partnership's work sheet for the year ended December 31 of the current year is provided in the Working Papers.

Instructions:

1. Prepare an income statement. Calculate and record the component percentages for total operating expenses and net income. Round percentage calculations to the nearest 0.1%.

2. Prepare a distribution of net income statement. The partners share in net income, net loss, or deficit according to each partner's percentage of total equity. The January 1 equity is Susan, \($23,400.00\) and Ann, \($12,600.00.\) Round percentage calculations to the nearest 0.1%. 

3. Prepare an owners' equity statement. 

4. Prepare a balance sheet. 

5. Journalize the adjusting entries using page 12 of a general journal. 

6. Journalize the closing entries on the same general journal page.