LLC Net Income and Statement of Members' Equity Marvel Media, LLC, has three members: WLKT Partners, Madison Sanders, and Observer Newspaper, LLC. Onanary 1, 20Y2, the three members had equity of $140,000, $35,000, and $85,000, respectively. WLKT Partners contributed an additional $40,000 to Marvel, Media LLC on June 1 20Y2 Madison Sanders rece ed an annual salary allo ance o $81,200 during 20Y2. The members' equity accounts are a so credted t 18% Interest on each member's January 1 capital balance. Any remaining income is to be shared in the ratio of 4:3:3 among the three members. The revenues, expenses, and net income for Marvel Media, LLC, for 20Y2 were $1,118,186, $848,186 and $270,000 respectively. Amounts equal to the salary and interest allowances were withdrawn by the members a. Determine the divislon of income among the three members. If an amount box does not require an entry, leave It blank Schedule of Division of Income WLKT Partners Madison Sanders Observer Newspaper, LLC Total Salary alowance Interest allowance Remaining inco(:3:3) 6,800 $130. 1001-"900| 270,000 Net Income s 82,000 b. Prepare the journal entries to close the (1) net Income and (2) wlthdrawals to the Indlvidual member equity accounts. For a compound entry, If an amount box does not require an entry, leave it blank. (1) WLKT Partners, Drawing