Problem 12-02A a-c (Part Level Submission) (Video) At the and of its first ycar af aperatians an Docember 31, 202D, Sunland Company's accounts show tha following. tal artner $48,900 37,aao 23,000 $22,800 13,60a 11,600 Greg Balen Krista Sayler The capital balance represents each partners initial capital investment, The erore, net income or net loss for 2020 has not been closed to the partners' capital accounts, To record the division of net income for the vear 2020 under each of the following indegendent assumptions. 1. Net income is $31,300. Income is shared 6:3:1 2. Net income is41,800. Niensted and Bolen are given salary allowances of $15,000 and S10.900, respectively. The re ander shared equally. Net income ls18,400. Ead' partner is allowed interest r 1D%an beginning capital balances. Nlensted is given a $13,510 salary allowance. The remainder is shared equi (a) Prepare schedule showing the division or net income under assumption 3 above Iran amount reduces the accou nt balance then enter with a negative s gn preceding the number e g 15,000 or parenthesis e 15,000 DIVISION OF N Greg Bolen Krista sayler Total Art Niensted Salery allowance interest allow nce on capital Total saleries and interest Remaining excessi deficiency Total division of net incomes Click if you would like to Show Work for this question Opern Shaw Wark SUBMIT ANSWER Attempts: 0 of 3 used SAVE FOR LATER