Martin Farley and Ashley Clark form a limited liability company with an operating agreement that provided a salary allowance of $64,000 and $51,000 to each member, respectively. in addition, the operating agreement specified and income-sharing ratio of 3:2. The two members with Drew amounts equal to their salary allowance. Revenues were $668,000 in expenses were $520,000, for a net income of $148,000.

A. Determine the division of $148,000 net income for the year.

B. Provide journal entries to close the (1) Revenues and expenses and (2) Jarring

drawing Accounts for the two members. For a compound transaction, if an amount box does not require an entry, leave it blank.