Liam and Katano formed a partnership to open a sushi restaurant by investing $112,000 and $122,000, respectively. They agreed to share profit based on an allocation to Liam of an annual salary allowance of $167,000, 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 \$47,000, Liam withdrew $24,000 during the year and Katano $41.000. Required: 1. Determine each partner's share if the first-year profit was $47,000. 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.) Journal entry worksheet Record the transfer of profit to partners' capital accounts. Note: Enter debits before credits