On March 2, 2023, Zoe Clark, Karen Lewi, and Veronica Walker 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 3:2:3 ratio for Zoe, Karen, and Veronica, respectively. The following are the transactions for Oriole Personal Coaching: 2023 Mar. 2 The partners contribute assets to the partnership at the following agreed amounts: Z. Clark K. Lewi V. Walker Cash $18,600 $12,400 $24,800 Furniture 21,080 Equipment 22,320 16,120 Total $40,920 $33,480 $40,920 They also agree that the partnership will assume responsibility for Karen's note payable of $6,200. Dec. 20 31 Zoe, Karen, and Veronica each withdraw $37,200 cash as a "year-end bonus." No other withdrawals were made during the year. Total profit for 2023 was $136,400. 2024 Jan. 5 6 Dec. 20 31 Zoe and Veronica approve Karen's request to withdraw from the partnership for personal reasons. They agree to pay Karen $18,600 cash from the partnership. Zoe and Veronica agree to change their profit-sharing ratio to 4:5, respectively. Zoe and Veronica withdraw $53,010 and $55,800 cash, respectively, from the partnership. Total profit for 2024 was $153,450. 2025 Jan. 4 Zoe and Veronica agree to admit Dela Allen to the partnership. Dela will focus on providing training in organizational skills to clients. Dela invests $38,440 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. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation 2023 (Invest assets in business.) Debit Credit (Invest assets in business.) 4 (Invest assets in business.) (Record cash drawings.) 2024 (To close Income Summary.) (To record withdrawal of partner.) (To record cash drawings.) (To close Income Summary.) 2025 (To record admission of partner.)