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Required Information [The following Information applies to the questions displayed below.] Rles, Bax, and Thomas...

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Required Information [The following Information applies to the questions displayed below.] Rles, Bax, and Thomas Invested $54,000,$70,000, and $78,000, respectively, In a partnership. During its first calendar year, the firm earned $413,100. Required: Prepare the entry to close the firm's Income Summary account as of Its December 31 year-end and to allocate the $413,100 net income under each of the following separate assumptions. 3. The partners agreed to share Income and loss by providing annual salary allowances of $38,000 to Rles, $33,000 to Bax, and 545,000 to Thomas; granting 10\% Interest on the partners' beginning capital Investments; and sharing the remainder equally. Complete this question by entering your answers in the tabs below. Allocate $413,100 net income by providing annual salary allowances of $38,000 to Ries, $33,000 to Bax, and $45,000 to Thomas; granting 10% interest on the partners' beginning capital investments; and sharing the remainder equally

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