Question 2 Slosky invested $60,000 and Karhut invested $80,000 in a partnership and agreed to share income and losses by allowing a $6,000 annual salary allowance to Slosky and an $1,000 annual salary allowance to Karhut. As well, each partner is to receive a share of profit equal to a 10% return on capital investments, and the balance is to be divided 1/3 to Slosky and 2/3 to Karhut. Under this agreement, what are the shares of the partners if the partnership income is $85,000 ? Prepare journal entry to close income summary to capital accounts