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Alien, Maler, and Bailey have capital balances of $20,000, $30,000, and $50,000, respectively. The partners share profits and losses as follows: The first 550 000 is divided based on the partners' capital balances. The next $50,000 is based on service shared equally by Alen and Bailey, Miller does not receive a salary allowance. The remainder is divided equally Read the requirements b Requirement 1. Compute each partner's share of the 5121,000 net income for the year. (Complete all answer bowen. For amounts that are $0, make sure to entu Allen Miller Bailey Total Net income (os Capital allocation Allen Milor Requirements Salary lowance An 1. Compute each partner's share of the $1 2. Journalize the closing entry to allocaten WS Print Ballery Tory and caption Not income dow) mining for allocation Remainder shared equally AB M Si income romaning for wat income who wanna