1. 2. Compute each partners' share of the $ 90,000 net income for the year. Journalize the closing entry to allocate net income for the year. QUESTION 2 (20 POINTS The Charles Davis& Darshelle Barner partnership has the following balances on September 30, 2017: DAVIS &BARNER Balance Sheet September 30, 2017 Assets Liabilities Cash Non-Cash Assets 35,000 45,000 Acounts Payable $29,000 Partners' Equity Davis, Capital Barner, Capital Total Partners' Equity Total Liabilities and Partners' Equity 10,000 41,000 51,000 80,000 Total Assets 80,000