The Simra Brothers Partnership had the following statement of partners' equity for the years ended December 31, 2013 and 2014. (This is similar to the statement of owners' equity shown in Exhibit 12-3 on page 760.)

Required
1. What was the profit-and-loss-sharing ratio in 2013?
2. Refer to Amin's contribution, which was made in cash. How much cash did Amin contribute to the partnership?
3. What percentage of interest did Amin obtain?
4. Why do Harry and Sunny have additions to their balances as a result of Amin's contribution?
5. What was the profit-and-loss-sharing ratio in 2014?

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Simra Brothers Partnership Statement of Partners' Equity For the Years Ended December 31,2013 and 2014 Harry Simra, Sunny Simra, Amin Simra, Total Partnership CapitalCapitalCapital apita $75,000 50,000 Balance, Jan. 1, 2013 Net income for 2013 Balance, Dec. 31, 2013 Amin's contribution Net income for 2014 Less partner withdrawals Balance, Dec. 31,2014 $125,000 50,000 175,000 50,000 80,000 (38,000) $267,000 30,000 3,000 $45,000 8,000 56,000 16,000 12,000) 16,000)10,000 $51,000 2,000 $93,000 $123,000