Blossom Company reported net income of $80,000. The partnership agreement provides for salaries of $20,000 to Miley and $15,000 to Guthrie. They divide the remainder 30% to Miley and 70% to Guthrie. Calculate division of net income. eTextbook and Media Prepare the closing entry, (Credit occount titles are automaticoily indented when amount is entered. Do not indent manually)