Carlos (beginning capital, $60,000) and Wendy (beginning capital $90,000) are partners. During 2018, the partnership earned net income of $80,000, and Carlos made drawings of $27,000 while Wendy made drawings of $36,000. Instructions

(a) Assume the partnership income-sharing agreement calls for income to be divided 45% to Carlos and 55% to Wendy. Prepare the journal entry to record the allocation of net income.

(b) Assume the partnership income-sharing agreement calls for income to be divided with a salary of $45,000 to Carlos and $37,500 to Wendy, with the remainder divided 45% to Carlos and 55% to Wendy. Prepare the journal entry to record the allocation of net income.

(c) Assume the partnership income-sharing agreement calls for income to be divided with a salary of $40,000 to Carlos and $35,000 to Wendy, interest of 10% on beginning capital, and the remainder divided 50%50%. Prepare the journal entry to record the allocation of net income.

(d) Compute the partners ending capital balances under the assumption in part (c).