At the end of its first year of operations on December 31, 2022, Cullumber Company's accounts show the following. Drawings Capital Shot 3PM Partner Art Niensted $19,320 $40,320 Greg Bolen 11,256 25,200 in Shot 4.38 PM Krista Sayler 8,400 21.000 Shot 25.09 AM 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.