Holt, Inari, and Jax are partners in the HIJ Partnership. On December $31,$ Year $5,$ the accorts are as follows:PartnerDrawings CapitalJ. Holt$$10,100$$$30,000$K$.$ Inari$7,00040,000$R$.$ Jax$5,00050,000$The capital amount represents the beginning capital balance. The partnership earned $$40,000$ in Year $5.$ The partnership agreement states that profits are shared, including an allocation of $5\%$ of the capital account beginning balance and salary allowances of $$15,000$ for Holt, $$20,000$ for Inari, and $$18,000$ for Jax. Any remaining profit or loss is shared in the ratio $5$:$3$:$2.$Requireda. Calculate the division of profit for HI$]$ Partnershipb. Journalize the entry to record the division of profit.c$.$ Prepare a statement of partner's equity for Year $5.$