At the end of its first year of operations on December 31, 2020, Sunland Company's accounts show the following Capital Partner Art Niensted Greg Bolen Krista Sayler Drawings $22,800 13,600 11,600 548,900 37,000 23,000 The capital balance represents each partner's initial capital investment. Therefore, net income or net loss for 2020 has not been closed to the partners' capital accounts. To record the division of net income for the year 2020 under each of the following independent assumptions. 1. Net income is $31,300. Income is shared 6:3:1. 2. Net income is $41,800. Niensted and Bolen are given salary allowances of $15,000 and $10,900, respectively. The remainder is shared equally 3. Net income is $18,400. Each partner is allowed interest of 10% on beginning capital balance. Niensted is given a $13,510 salary allowance. The remainder is shared equally Prepare a schedule showing the division of net income under assumption (3) above. (If an amount reduces the account balance then enter with a negative sign preceding the number eg. -15,000 or parenthesse. (15.000).) DIVISION OF NET INCOME Art Niensted Greg Bolen Krista Sayler Total Salary lowance 13510 Interest allowance on capital 4890 Prepare a schedule showing the division of net income under assumption (3) above. If an amount reduces the accountance then enter preceding the number ..-15.000 or parenthesis g. (15.000).) DIVISION OF NET INCOME Art Niensted Greg Bolen Krista Sayler Total Salary allowance 13510 on) Interest allowance on capital 4890 ion) Total salaries and interest 18400 Remaining exces deficiency 2000 Total division of net income 20400