Base your answers to questions 3 through 5 on the following information. Assume that Carpenter; Kneller} and Hartley are partners. Their |Capital account balances were $35,{}UD, $3D,D{i, and $24,D{}, respectively, at the beginning of the current scal year. The partnership agreement provides for an allowance of interest at the rate of 6% on the capital balances at the beginning of the year, and salary allowances of $3,D{i, $11,!'J, and $12,, respectively. The remaining partnership net income is to be divided 3?1r2% I 3?1r2% 1' 25%. REQUIRED: Complete a schedule showing the division of partnership net Income,r using the format given in your study unit on the form provided at the back of this unit. Then complete questions 3 through 5. DD MDT send the form to us. 3. If the net income for that year was $63,450, the amount to be distributed to the part- ners for the year} after providing for salaries and interest on capital balances, is A. $53313. c. $213120. a. $1o,1?o. o. $35,344:). 4. If you assume a net income of $3D,?{}D, by what amount would Hartley's capital account be increased as a result of the net income distribution? A. $14,393 c. $12330 s. $13,44u o. $1o,ssn 5. How wouid you record the general journal entry to distribute the net income of a partnership? A. As a debit to the |{lash account and credils to the partners\" Capital accounts B. As debits to the partners\" Capital accounts and a credit to Cash E. As a debit to the Income Summary account and credits to the partners\" Capital accounts D. As debits to the partners\" Capital accounts and a credit to the Income Summary account