Star Buck Cafe has three partners: Grande, Venti, and Trenta. On January 1, 2021, the three partners had equity of $250,000, $50,000, and $140,000, respectively. Grande contributed an additional $50,000 on July 1, 2021. Venti received an annual salary allowance of $88,250 during 2021. The partners' equity accounts are also credited with 10% interest based on average capital balances. Any remaining profit is to be shared in a ratio of 4:3:3. The 2021 profit was $316,000. Amounts equal to the salary and interest allowances are required to be withdrawn by the partners every year-end. Answer: a. Determine each partners' share in the profit. b. Prepare the journal entries to close the income summary and withdrawals to the partner's equity accounts c. Prepare the statement of changes in partners' equity