Liam and Katano formed a partnership to open a sushi restaurant by investing $98,000 and $108,000, respectively. They agreed to share profit based on an allocation to Liam of an annual salary allowance of $153,000, interest allowance to both Liam and Katano equal to 12% of their beginning-of-year capital balance, and any balance based on a 1:3 ratio, respectively. At the end of their first year, December 31, 2020, the Income Summary had a credit balance of $33,000. Liam withdrew $10,000 during the year and Katano $27,000. Required: 1. Determine each partner's share if the first-year profit was $33,000. 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.) 0 Share to Liam Share to Katano Total Total salaries and interest allocation Balance of profit Remainder 1.3 ratio Balance of profit Shares of each partner