Liam and Katano formed a partnership to open a sushi restaurant by investing $99,000 and $109,000, respectively. They agreed to share profit based on an allocation to Liam of an annual salary allowance of $154,000, interest allowance to both Liam and Katano equal to 15% 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, 2023, the Income Summary had a credit balance of $34,000. Liam withdrew $11,000 during the year and Katano $28,000. Required: 1. Determine each partners share if the first-year profit was $34,000. Prepare the entry to close the Income Summary on December 31, 2023. (Leave no cell blank. Enter "0" when the answer is zero. Negative answers should be indicated by a minus sign.) 2. Calculate the balance in each partners capital account at the end of their first year. (Negative answers (i.e. debit account balances) should be indicated by a minus sign.)