and form a partnership on January 1, , contributing and , respectively. The partnership had net income of . Based on the partnership agreement, 's share of net income was and 's share was . and each withdrew cash of for personal use during the year. Read the requirementsLOADING.... Question content area bottom Part 1 Requirement 1. Journalize the entry to close net income to the partners. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.)