Marvel Media, LLC, has tree members: WLKT Parners, Madison Sanders, and Observer Newspaper, LLC. On January 1, 20r2, the thvee mernbers had equly of \$213,200, \$30,000, and $159,200, respectively. WLKT Partners contnbuled an addilional \$49,100 to Marvel Media, LLC, on June 1, 20 Y2 Madison Sanders received an annual salary adowarce of \$54.500 during 20Y2. The members' equity accounts are also credited wer 20% interest on each member's January 1 capial bslance. Acry remaining income is to be shared in the ratio of 4.3 .3 among the three members. memberk. The revenues, evpenses, and net income for Marvel Media, LC, for 20 Y2 were $1,255,500,872,400 and $383,100 respecilively. Amounts equal to the salary and interest allowances were withdrawn by the members. Required: A. Dotermine the division of income among the three members B. Prepare the joumal entries no close the net income and withdrawads to the inclvolual member equily accounts. Alefer to the Chart of Accough for exact wording of account mies. C. Prepare a stasement of members' equily for aorz D. What are the advaneages of an income-sharing agoement tor the members of this LLC? A. Determine the division of income among the three members. HC net income and statement of members' equity Instructiona Chart of Accounts Schedule of Divislon of Inceme Joumal Sthement of Members Equly Instructions Schedule or Division of income Journal C. Propare a statoment of members' equily for 20Y2. D. What are the advantages of an income-sharing agreement for the members of this LLC? Wishout an income-sharing agreement, each member: be credted with an equal proportion of the total earnings, or one-third each, Separate contributions be acknowledged in the income-sharing formula