Almario and Cinco, partners of Universal Dry Cleaning Services showed to you their partnership agreements as follows: a. Almario will be allowed to an annual salary of P50,000 while Cinco, P40,000. b. Both are allowed to a 15% interest on their beginning capital balances of P200,000 and P100, 000. c. Any remainder, equally divided Required: 1. Show how profit or is distributed to partners under the following separate cases: Case A - Profit is P160, 000 B - Profit is P120,000 C - Loss is ( P20,000) 2. Journal entry to close the Income and Expense account under each of the following cases