Anderson, Mackey, and Butler have capital balances of $20,000, $30,000, and $50,000, respectively. The partners share profits and losses as follows: a. The first $50,000 is divided based on the partners' capital balances b. The next $50,000 is based on service, shared equally by Anderson and Butler. Mackey does not receive a salary allowance c. The remainder is divided equally Read the requirements Requirements 1. Compute each partner's share of the $112,000 net income for the year. 2. Journalize the closing entry to allocate net income for the year. Requirement 1. Compute each partner's share of the $112,000 net income for the year (Complete all answer boxes. For amounts that are $0, make sure to enter "0" in the appropriate column.). Net income (loss) Capital allocation: Anderson Mackey Butler Salary allowance: Anderson Mackey Butler Total salary and capital allocation Net income (loss) remaining for allocation Remainder shared equally: Anderson Mackey Anderson Mackey Butler Total Remainder shared equally: Anderson Mackey Butler Total allocation Net income (loss) remaining for allocation Net income (loss) allocated to the partners