At the end of its first year of operations on December 31, 2022, Sheridan Company's accounts show the following. Partner Drawings Capital Art Niensted $26,220 $54,720 Greg Bolen 11,676 34,200 Krista Sayler 11,400 28,500 The capital balance represents each partner's initial capital investment. Therefore, net income or net loss for 2022 has not been closed to the partners' capital accounts.