Llam and Katano formed a partnership to open a sushi restaurant by Investing S107,000 and $117,000, respectively. They agreed to share profit based on an allocation to Liam of an annual salary allowance of $162,000, Interest allowance to both Liam and Katano equal to 15% 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 542,000 Llam withdrew $19,000 during the year and Katano $36,000 Required: 1. Determine each partner's share if the first-year profit was $42.000. Prepare the entry to close the Income Summary on December 31 2020. (Leave no cell blank. Enter "0" when the answer is zero. Negative answers should be indicated by a minus sign.) Share to Liam Share to Katano Total $ 0 5 O Total salaries and interest allocation Balance of profit 0 0 Remander 13 ratio Balance of profit Shares of each partner 0$ 3 0