Requirement 1. Calculate the amount of income each partner will receive under their profit-and-loss-sharing agreement assuming Patterson's capital balance is $88,000 and Warden's capital balance is $88,000. (Complete all answer boxes. For amounts that are $0, make sure to enter "O" in the appropriate column.) Patterson Warden Total Net income (loss) Capital allocation: Patterson Warden Salary allowance: Patterson Warden Total salary and capital allocation Net income (loss) remaining for allocation Share of remainder: Patterson Warden Total allocation Net income (loss) remaining for allocation Net income (loss) allocated to the partners X Requirements - 1. Calculate the amount of income each partner will receive under their profit-and-loss-sharing agreement assuming Patterson's capital balance is $88,000 and Warden's capital balance is $88,000. 2. Journalize the entry to close the Income Summary account for the year. Requirement 1. Calculate the amount of income each partner will receive under their profit-and-loss-sharing agreement assuming Patterson's capital balance is $88,000 and Warden's capital balance is $88,000. (Complete all answer boxes. For amounts that are $0, make sure to enter "O" in the appropriate column.) Patterson Warden Total Net income (loss) Capital allocation: Patterson Warden Salary allowance: Patterson Warden Total salary and capital allocation Net income (loss) remaining for allocation Share of remainder: Patterson Warden Total allocation Net income (loss) remaining for allocation Net income (loss) allocated to the partners X Requirements - 1. Calculate the amount of income each partner will receive under their profit-and-loss-sharing agreement assuming Patterson's capital balance is $88,000 and Warden's capital balance is $88,000. 2. Journalize the entry to close the Income Summary account for the year