*O. Guillen (beginning capital, $58,000) and K.Williams (beginning capital ($87,000) are partners. During 2010, the partnership earned net income of $69,500, and Guillen made drawings of $18,650 while Williams made drawings of $24,980.* 1)Assume the partnership income-sharing agreement calls for income to be divided 43% to Guillen and 57% to Williams. Prepare the journal entry to record the allocation of net income. 2)Assume the partnership income-sharing agreement calls for income to be divided with a salary of $29,900 to Guillen and $25,600 to Williams, with the remainder divided 43% to Guillen and 57% to Williams. Prepare the journal entry to record the allocation of net income. Account/Description Debit Credit : Income summary O.Guillen, Capital K.Williams, Capital 3) Assume the partnership income-sharing agreement calls for income to be divided with a salary of $42,900 to Guillen and $35,400 to Williams, interest of 8% on beginning capital, and the remainder divided 50%-50%. Prepare the journal entry to record the allocation of net income Account/Description Debit Credit Income summary O.Guillen, Capital K.Williams, Capital 4) Compute the partners' ending capital balances under the assumption in the previous part of the