Ex. 1 Kim Mndez and Lolo Howell have formed the CLO Partnership, and have capital balances of $65.000 and $50,000, respectively, on January 1, 2019. On June 1, 2019. Howell invested an additional $15.000. Also during the year, Mndez withdrew $30,000 and Howell withdrew $24,000. Sales for the year amounted to $180,000 and expenses were $120.000. Mndez and Howell share income and losses on a 3:1 basis. Instructions (a) (b) Prepare the closing entries at December 31, 2019. for the CLO Partnership Prepare a partners' capital statement for 2019