A partnership formed between two partners on January 01,2023. Partner X's intial net investment is $30,000, (made up of $7,000 in cash, Equipment with a fair value of $33,000, and a $10,000 note payable reflecting a bank loan for business due in six month). Y's intial investment is cash of $10,000. These amounts are the values agreed upon by both partners. Both partners agree that X s services are worth an annual salary of $40,000. Since Y is less expenenced in the business, his services are valued at $25,000 annually it is also agreed that each partners entitled to interest allowances equal to 10% of each partners beginning of year capital balance and any remaining balance of profit and loss will be shared 3.1 basis between X&Y. Required: a) Prepare statement of Capital account of each partner in statement format, showing detail of all allowances and Closing journal entry at year end if profit is $70,000. b) Prepare statement of Capital account of each partner in statement format, showing detail of all allowances and Closing journal entry at year end if profit is $50,000. c) Prepare statement of Capital account of gach partner in statement format, showing detail of all allowances and Closing journal entry at year end if profit is 510,000 . The entry to close the income summary account is : The entry to close the income summary account is : Income summary X's Capital Account Y's Capital Account To transfer profit of $ from Income Summary to the partner's capital accounts based on the allocation specified in the partnership agreement. (FILL IN THE BLANK)