Liam and Katano formed a partnership to open a sushi restaurant by investing $113,000 and $123,000, respectively. They agreed to share profit based on an allocation to Llar of an annual salary allowance of S168,000, interest allowance to both Liam and Katano equal to 10% of their beginning of year capital balance, and any balance based on a 13 ratio, respectively. At the end of their first year, December 31, 2020, the Income Summary had a credit balance of $48,000. Lam withdrew $25,000 during the year and Katano $42.000 Required: 1. Determine each partner's share if the first year profit was $18,000. Prepare the entry to close the Income Summary on December 31, 2020 (Leave no cell blank. Enter "o" when the answer is zero. Negative answers should be indicated by a minus sign.) Toat Total salaries and interest allocation Balance of profit Renunder 13 ratio Balance of profil Shares of each partner View transaction list B. Journal entry worksheet +46.11 Record the transfer of profit to partners' capital accounts. Note: Enter debits before credits. Date December 31, 2020 General Journal Deblt Credit Record entry Clear entry View general journal ere to search o U! 2 Calculate the balance in each partner's capital account at the end of their first year. (Negative answers (ie. debit account balances) should be indicated by a minus sign) Capital account balance