At the end of its first year of operations on December 31,2020, Sandhill Company's accounts show the following. 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 $29,800. Income is shared 6:3:1. 2. Net income is $39,600. Niensted and Bolen are given salary allowances of $14,600 and $10,900, respectively. The remainder is shared equally. 3. Net income is $18,200. Each parther is allowed interest of 10% on beginning capital balances. Niensted is given a $13.750 salary allowance. The remainder is shared equally. No. Account Titles and Explanation Debit Credit 1. Income Summary 29800 A Niensted, Capital 17880 G. Bolen, Capital 8940 KSayler, Capital 2980 2. Income Summary A. Niensted, Capital G. Bolen, Capital K. Sayler, Capital 3. Income Summary A. Niensted, Capital