PROBLEM 1 A and B formed a partnership in 2020. The partnership agreement provides for annual salary allowances of P55,000 for A and P45,000 for B. The partners share prots equally and losses in a 60:40 ratio. CASE 1: The partnership had earnings of P80,000 for 2020 before any allowances to partners. CASE 2: The partnership had earnings of P2 00,000 for 2020 before any allowances to partners. PROBLEM 2 Partners A, B, and C have the following prot and loss agreement: - A and B should receive salaries of P40,000 each. - C gets a bonus of 10% of net income after salaries - Remaining profits are shared by A, B, and C in the ratio 3:4:3, respectively. The partnership had a net income of P91,000. How much should be allocated to C? PROBLEM 3 The following balance sheet was taken as of September 30, 2021 for ABC Partnership: A5533 Liabilities and Capital Cash 80,000 Liabilities 200,000 Other Assets 520,000 A, Capital 100,000 B.Capital 180,000 C, Capital 120,000 Total 600,000 Total 600,000 Partners agreed the following distribution of prots: - 6% interest on capital contribution; a Annual salaries of P20,000 each; n 10% bonus to A after salaries, interest and bonus: c Remainder distributed 40%, 40% and 20% respectively. The partnership uses a scal period starting October 1. if C receives a total prot share of P20,000, compute for the total net income earned by the business before salaries, interest and bonus for the period ending March 31. 2021