please find attached and fill in the blanks.

3. Ben Conway, Ida Chan, and Clair Scott formed CCS Consulting this year by making capital contributions of $250,000, $400,000, and $150,000, respectively. They anticipate annual loss of $200,000 and are considering the following alternative plans of sharing profits and losses: I. In the ratio of their initial investments; or+ II. Salary allowances of $100,000 to Conway, $90,000 to Chan, and $50,000 to Scott and interest allowances of 15% on initial investments, with any remaining balance shared in the ratio of 3:2:1. + Required:+ 1. Use the schedule to show how a loss of $200,000 would be distributed under each of the alternative plans being considered. (Round to the nearest dollar if needed.) (18 points)+ Profit (Loss) Sharing Calculations.. Share to Share to Share to Scott.. Total. Plan. Conway.. Chan.. (1. ).. Profit/loss.. (II.). Profit/loss.. Salary allowances. nterest allowances.. Total salaries and interest allocation.. Balance of Profit/loss. Balance allocated Balance of Profit. Shares of partners.. 2. Prepare the December 31, 2020, journal entry to close Income Summary assuming they agree to use alternative (II). (4 points)+ Date. General Journal. Debit Credit.. Dec 31, 2020. Profit.. - 1