At the end of its first year of operations on December 31, 2022, Sandhill Company's accounts show the following Partner Drawings Capital Art Niensted $22.540 $47.040 Greg Bolen 11,452 29.400 Krista Sayler 9,800 24.500 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. (a) Journalize the entry to record the division of net income for the year 2022 under each of the following independent assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) 1 Net income is $29,400. Income is shared 6:3:1. 2. Net income is $39,200. Niensted and Bolen are given salary allowances of $14,700 and $9,800, respectively. The remainder is shared equally. 3. Net income is $18.620. Each partner is allowed interest of 10% on beginning capital balances. Niensted is given a $14,700 salary allowance. The remainder is shared equally. No. Account Titles and Explanation Debit Credit 1. 2. 3. $ IA $ e Textbook and Media Prepare a partners' capital statement for the year under assumption (3) above. (List items that increase partners capital first.) SANDHILL COMPANY Partners' Capital Statement Art Niensted Greg Bolen Krista Sayler Total $ A $ $ $ $ $ $ $