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Required information The following information applies to the questions displayed below) Ries, Bax, and Thomas invested $36,000.$52,000, and $60,000, respectively, in a partnership. During its

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Required information The following information applies to the questions displayed below) Ries, Bax, and Thomas invested $36,000.$52,000, and $60,000, respectively, in a partnership. During its first calendar year, the firm earned $341100, Required: Prepare the entry to close the firm's Income Summary account as of its December 31 year-end and to allocate the $341100 net income under each of the following separate assumptions. 1. The partners did not agree on a plan, and therefore share income equally View transaction ist Journal entry worksheet

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