A summary of changes in the capital accounts of the Katie, Lynda, and Molly partnership for 2018, before closing partnership net income to the capital accounts, is as follows: Katie Capital $80,000 20,000 Lynda Capital $80,000 Molly Capital $90,000 Balance January 1, 2018 Investment April 1 Withdrawal May 1 Withdrawal July 1 Withdrawal September 1 Total Capital $250,000 20,000 (15,000) (10,000) (30,000) $215,000 (15,000) (10,000) (30,000) $60,000 $90,000 $65,000 Required: Determine the allocation of the 2018 net income to the partners under each of the following sets of independent assumptions: 1. Partnership net income is $60,000, and profit is divided on the basis of average capital balances during the year. 2. Partnership net income is $50,000, Katie gets a bonus of 10% of income for managing the business, and the remaining profits are divided on the basis of beginning capital balances. 3. Partnership net loss is $35,000, Molly receives a $12,000 salary, cach partner is allowed 10% interest on beginning capital balances, and the remaining profits are divided equally