At the end of its first year of operations, December 31, 2016, ABC Company's unadjusted accounts show the following: The capital balance above represents each partner's initial capital investment. No closing entries have been recorded for net income (loss) or drawings as yet. a) Journalize the entry to record the division of net income for the year ended December 31, 2016 under each of the following independent assumptions: 1. Net income is shared on the ratio of their initial investments. Net income is exist47,000. 2. Net income is exist34,000. Bartlett and Cross are given salary allowances of exist15,000 and exist10,000 respectively. The remainder is shared equally. 3. Net income is exist23,000. Each partner is allowed interest of 5% on beginning capital balances. Cross is given a exist15,000 salary allowance. The remainder is shared equally. b) Journalize the entry to close each partner's drawings account. c) Prepare a statement of partners' equity for the year end under assumption #3 in part (a) above