Marvel Medio, LLC, has three members, WuxT Parthers, Madison Sanders, and Observer Newspaper, LLC, On January 1, 20Y2, the three mernbers had equity of $200,000,$40,000, and $160,000, respectively. WUKT Parthers contributed an ddditional $50,000 to Marvel Media, LiC, on June 1, 20rz. Madason Sanders recelved an annual salary allowance of $55,000 during 20Y2. The members' equity accounts are also credited with 10% interest on each member's banuary 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, Lic, for 20y2 were $1,260,000,$900,000, and $360,000, respectively. Amounts equal to the salacy and interest allowances were withdrawn by the members. a. Determine the division of income among the three members, If an amount box does not require an entry, leave it biank. b. Prepare the joumal entries to close the (1) net income and (2) withdrawals to the individual member equity accounts. For a compound entry, if an amount box do not require an entry, leave it blank. d What are the advantages of an income-sharing agreement for the members of this LLC? Without an income-sharing agreement, each member be credited with an equal proportion of the total eamings, of one-third each. Separate contributions be acknowledged in the income-sharing formula