In the LMK partnership, Luis's capital is $40,500, Marty's is $51,500, and Karl's is $30,200. They share income in a 4:1:1 ratio, respectively. Karl is retiring from the partnership. Required: Prepare journal entries to record Karl's withdrawal according to each of the following independent assumptions: a. Karl is paid $39,700, and no goodwill is recorded. b. Karl is paid $43,400, and only his share of the goodwill is recorded. c. Karl is paid $35,300, and all implied goodwill is recorded. Complete this question by entering your answers in the tabs below. Prepare journal entries to record Karl's withdrawal according to each of the following independent assumptions: Karl is paid $39,700, and no goodwill is recorded. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Record the payment of $39,700 to Karl and no goodwill is recorded. Prepare journal entries to record Karl's withdrawal according to each of the following independent assumptions: Karl is paid $43,400, and only his share of the goodwill is recorded. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Prepare journal entries to record Karl's withdrawal according to each of the following independent assumptions: Karl is paid $35,300, and all implied goodwill is recorded. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations. Prepare journal entries to record Karl's withdrawal according to each of the following independent assumptions: Karl is paid $35,300, and all implied goodwill is recorded. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations. Journal entry worksheet Note: Enter debits before credits