2. Prepare a statement of changes in equity showing the allocation of profit to the partners, assuming they agree to use alternative (c) and the profit actually earned for the year ended December 31, 2020, is $472,800. During the year, Conway. Chan, and Scoff withdraw $55,000, $45,000, and $35,000, respectively. (Enter all amounts as positive values.) CCS Consulting Statement of Changes in Equity For Year Ended December 31, 2020 Conway Chan Scott Total Capital, January 1 164,400 310,000 204,000 678,400 Add Investments by partners 164.400 164,700 123,800 452.900 0 Total 164,400 164.700 123.800 452,900 Less Partners withdrawals 55.000 45.000 35.000 135.000 Capital, December 31 109.400 119.700 88,800 317,900 3. Prepare the December 31, 2020, journal entry to close Income Summary assuming they agree to use alternative (C) and the profit a $472.800 Also, close the withdrawals accounts. Frey 1 of 4 Next >