Farmer and Taylor formed a partnership with capital contributions of $235,000 and $285,000, respectively. Their partnership agreement calls for Farmer to receive a $77,000 per year salary allowance. The remaining income or loss is to be divided equally. Assuming net income for the current year is $177.000, the journal entry to allocate net income is: Multiple Choice Debit Income Summary, $177,000, Credit Farmer, Ciptal, $44,400, Credit Taylor, Capnal $132.600 Debit Income Summary, $177.000, Credit Farmer Capta, 588.500, Credit Taylor Capital, $88,500. Debit Income Summary, $177,000 Credit Farmer Capital, $127,000 Credit Taylor, Capital, $50.000 Debt Income Summary, $177,000 Credit Taylor Capital $127,000, Credit Famer, Capital $50.000 Detit Income Summary, $177,000, Credit Farmer Capital, $158,000, Credit Taylor Capital, $19000