On January 1, 2015 partners Carter Stark, Bert Zimm and Frank Levens had capital balances of $69,000, $60,000 and $81,000 respectively. During 2015 the partners made the following investments: Carter Stark, $110,000; Bert Zimm, $130,000; and Frank Levens, $110,000. Also, Carter Stark withdrew cash of $36,000, Bert Zimm withdrew $18,000 and Frank Levens withdrew $48,000. The company has a December 31 year end. In addition, the following schedule shows how net loss is allocated. Carter Stark, Bert Zimm Frank Levens Total (45,500) 15,000 21,000 5.500 26,500 21.000 6,500 27,500 5,500 20,500 Net loss Salaries Interest Total salary and interest Remainder to be allocated Remainder allocated between partners Balance of net loss to be allocated: Total to be allocated to each partner: (40,000) (40,000) (40,000) (74.500) (120,000) 120.000 0 (45,500) (13,500) (12,500) (19,500) a) Prepare the entry to close the income summary account. Enter an appropriate description and the date in the format dd/mmm (ie. 15/Jan) General Journal Page GJ2 Date Account/Explanation F Debit Credit + b) Calculate the post-closing balance in each partners' capital account. Carter Stark, Capital Bert Zimm, Capital Frank Levens, Capital