5. At the end of each calendar quarter of 2013, every partner received a draw of $50,000. At the end of each calendar quarter of 2014, every partner received a draw of $10,000. However, at the end of...

5. At the end of each calendar quarter of 2013, every partner received a draw of $50,000. At the end of each calendar quarter of 2014, every partner received a draw of $10,000. However, at the end of the second and third quarters of 2014, Franklin paid himself an additional draw of $20,000 each quarter. The additional draws were recorded as equipment acquisitions that were depreciated by the straight-line method over a 5-year period.