On March 2, 2020, Zoe Moreau, Karen Krneta, and Veronica Visentin start a partnership to operate a personal coaching and lifestyle consulting practice for professional women. Zoe will focus on work-life balance issues, Karen on matters of style, and Veronica on health and fitness. They sign a partnership agreement to split profits in a 3:23 ratio for Zoe, Karen, and Veronica, respectively. The following are the transactions for CARLA VISTA Personal Coaching: 2020Mar. 2 The partners contribute assets to the partnership at the following agreed amounts: Z. Moreau K. Krneta V. VisentinCash $14,900 $10,500 $19,900Furniture 17,400 Equipment 19,600 14,600 Total $34,500 $27,900 $34,500 They also agree that the partnership will assume responsibility for Karen's note payable of $4,900. Dec. 20 Zoe, Karen, and Veronica each withdraw $29,900 cash as a "year-end bonus." No other withdrawals were made during the year. 31 Total profit for 2020 was $109,000. 2021Jan. 5 Zoe and Veronica approve Karen's request to withdraw from the partnership for personal reasons. They agree to pay Karen S15,750 cash from the partnership 6 Zoe and Veronica agree to change their profit-sharing ratio to 4:5, respectively. Dec. 20 Zoe and Veronica withdraw $42,100 and $45,200 cash, respectively, from the partnership. 31 Total profit for 2021 was $123,750. 2022 Jan. 4 Zoe and Veronica agree to admit Dela Hirjikaka to the partnership. Dela will focus on providing training in organizational skills to clients. Dela invests $31,100 cash for 25% ownership of the partnership. Record the above transactions. For the profit recognized each year, calculate how it is to be allocated and record the closing of the Income Summary account