o of a Required information [The following information applies to the questions displayed below) Ries, Bax, and Thomas invested $52,000, $68,000, and $76,000, respectively, in a partnership. During its first calendar year, the firm earned $408,900, Required: Prepare the entry to close the firm's Income Summary account as of its December 31 year-end and to allocate the $408,900 net income under each of the following separate assumptions. DOR 2. The partners agreed to share Income and loss in the ratio of their beginning capital investments. D tences Complete this question by entering your aswers in the tabs below. Appropriation General of profits Journal Allocate $408,900 net income in the ratio of their beginning capital investments. (Do not round intermediate calculations. Round final answers to the nearest whole dollar) Supporting Percentage of Total Income Allocated income to Computations Equity Summary Capital Ries Bax Thomas Approa General Journal >