Problem 12-2A (Part Level Submission) At the end of its first year of operations on December 31, 2017, NBS Company's accounts show the following. Partner Drawings Capital Art Niensted Greg Boler Krista Sayler $23,000 14,000 10,000 $48,000 30,000 25,000 The capital balance represents each partner's initial capital investment. Therefore, net income or net loss for 2017 has not been closed to the partners' capital accounts. Journalize the entry to record the division of net income for the year 2017 under each of the following independent assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (1) Net income is $30,000. Income is shared 6:31 (2) Net income is $40,000. Niensted and Bolen are given salary allowances of $15,000 and $10,000, respectively. The remainder is shared equally. (3) Net income is $19,000. Each partner is allowed interest of 10% on beginning capital balances. Niensted is given a $15,000 salary allowance. The remainder is shared equally. No. Account Titles and Explanation Debit Credit 1. 2