Oriole Company reported net income of $97,000. The partnership agreement provides for salaries of $22,300 to Miley and $19,400 to Guthrie. They divide the remainder 32% to Miley and 68% to Guthrie.

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Oriole Company reported net income of $97,000. The partnership agreement provides for salaries of $22,300 to Miley and $19,400 to Guthrie. They divide the remainder 32% to Miley and 68% to Guthrie. (a1) Calculate division of net income. Miley Guthrie Division of net income $ $ e Textbook and Media Save for Later (a2) Prepare the closing entry. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit e Textbook and Media