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Exercise 15-4 (Algo) Distribution of Partnership Income and Preparation of a Statement of Partners Capital LO 15-5 Additional Information for 205 1. Apple began the year with a capital balance of $44,100. 2. Jack began the year with a capital balance of $122,000. 3. On April1, Apple invested an additional $20,700 into the partnership. 4. On August 1, Jack Invested an additional $20,000 into the partnership. 5. Throughout 205, each partner withdrew $500 per week in anticipation of partnership net income. The parthers agreed that these withdrawals are not to be included in the computation of average capital balances for purposes of income distributions. a. Prepare a schedule that discioses the distribution of partnership net income for 205. b. Prepare the statement of partners' capital at December 31, 20X5. c. How would yout answer to part a change if all of the provisions of the income distribution plan were the same except that the salaries were $39,000 to Apple and $36,752 to Jack? Prepare a schedule that discloses the distribution of partnership net income for 205. Note: Do not round Intermediate calculations. Round your final answers to nearest whole dollar. Amounts that are to be d individual partner's capital balance should be entered with a minus sign. APPLE - JACK PARTNERSHIP Statement of Partners' Capital For the Year Ended December 31, 20X5 How would your answer to part a change if all of the provisions of the income distribution plan were the same except that the salarle were $39,000 to Apple and $36,752 to Jack? Note: Do not round intermediate calculations. Round your final answers to nearest whole dollar. Amounts that are to be deducted fro an individual partner's capital balance should be entered with a minus sign