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Harvey three meme WECI Partners, Mason Sanders, and Over Newspapers on January 2012, the three members and 000, respectively. WLKT Partners contributed an additional $60,000

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Harvey three meme WECI Partners, Mason Sanders, and Over Newspapers on January 2012, the three members and 000, respectively. WLKT Partners contributed an additional $60,000 to Marvel, Media, LLC, on June 1, 2012. Madison Sanders received an annual salary allowance of $127.600 dering 2012. The members' quity accounts are also credited with 18% Interest on each member's January 1 capital balance. Any remaining income is to be shared in the ratio of 4:23 among the three members. The revenues, expenses, and net income for Marvel Media, LLC, for 2012 were $541,636,5121,636 and $420,000 respectively. Amounts equal to the salary and interest allowances were withdrawn by the member a. Determine the division of income among the three members. It an amount box does not require an entry leave it blank Schedule of Division of Income WLKT Partners Madison Sanders Observer Newspaper, LLC Total Salary allowance Tnterest allowance Remaining income (4:33) Nincome b. Prepare the Journal entries to dosethe () net income and (2) withdrawals to the individual member equity accounts for a compound entry in sout box does not require an entry leave it blank Exc W PS Member Twity trabon Sanders Member FONT

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