(1) At the end of each fiscal year, the profits and losses for the year are to be determined on the basis of the balance sheet, and each partner’s share of such profits and losses is to be calculated.
(2) The profits due a partner are to be added to the partner’s share of capital; the losses allocated to a partner, as well as any money withdrawn from the share of capital during the fiscal year, are to be deducted therefrom.