Required information Skip to question [The following information applies to the questions displayed below.] Ries, Bax, and Thomas invested $34,000, $50,000, and $58,000, respectively, in a partnership. During its first calendar year, the firm earned $403,800. Required: Prepare the entry to close the firms Income Summary account as of its December 31 year-end and to allocate the $403,800 net income under each of the following separate assumptions. 3. The partners agreed to share income and loss by providing annual salary allowances of $39,000 to Ries, $34,000 to Bax, and $46,000 to Thomas; granting 10% interest on the partners beginning capital investments; and sharing the remainder equally