Martin Farley and Ashley Clark formed a limited liability company with an operating agreement that provided a salary allowance of $40,000 and $30,000 to each member, respectively. In addition, the operating agreement specified an income-sharing ratio of 3:2. The two members withdrew amounts equal to their salary allowances. Note: The reduction in members equity from withdrawals would be disclosed on the statement of members equity. Required: A. Determine the division of $148,000 net income for the year. B. On December 31, provide journal entries to close the (1) income summary and (2) drawing accounts for the two members. Refer to the Chart of Accounts for exact wording of account titles. C. If the net income were less than the sum of the salary allowances, how would income be divided between the two members of the LLC?