2. Prepare the owners equity section of the balance sheet at Dec. 31, 2019. P12-2A At the end of the first year of operation on December 31, 2019, NBS Company's account show the following. Partner Drawings Capital Youssef 23,000 48,000 Ali Kito 14,000 30,000 10,000 25,000 The capital balance represents each partner's initial capital investment. Therefore, net income or net loss for 2019 has not been closed to partners' capital accounts. Instructions: (a) Journalize the entry to record the division of the net income for the year 2019 under each of the following independent assumptions. 1. Net income is $30,000. Income is shared 6:3:1. 2. Net income is $40,000. Youssef and Ali are given salaries allowances of $15,000 and $10,000, respectively. The remainder is shared equally. 3. Net income is $19,000. Each partner allowed interest of 10% on beginning capital balances. Youssef is given salaries allowances of $15,000. The remainder is shared equally. (b) Prepare a schedule of the division of net income under assumption 3. (c) Prepare a partners' capital statement for the year under assumption 3