3 Required information Problem 12-3A (Algo) Allocating partnership income LO P2 [The following information applies to the questions displayed below.] Ries, Bax, and Thomas invested $36,000, $52,000, and $60,000, respectively, in a partnership. During its first calendar year, the firm earned $332,100. Required: Prepare the entry to close the firm's Income Summary account as of its December 31 year-end and to allocate the $332,100 net income under each of the following separate assumptions. Problem 12-3A (Algo) Part 1