Macro Media, LLC has three members: WLKT Partners, Amanda Nelson, and Daily Sentinel Newspaper, LLC. On Jan 1 all three members has equity of $250,000, $50,000, and $140,000 respectively. WLKT partners contributed an additional $50,000 to Macro Media LLC. Amanda Nelson received an annual salary of $88,700. The member's equity accounts are also credited with 10% interest on each members capital balance. Any remaining Income is split 4:3:3 among all three members, net income for the company was $720,000, Amounts equal to the salary and interest allowances were withdrawn by the members.

a- determine the division among all three members

b- prepares the journal entry to close the net income and withdrawals to the individual member equity accounts

c- Prepare a statement of members equity for 2012

d- What are the advantages of an income sharing agreement for this LLC.