The capital accounts of Angel Alvarez and Emma Allison have balances of $101,000 and $74,000, respectively, on January 1, 2014, the beginning of the fiscal year. On March 10, Alvarez invested an additional $11,000. During the year, Alvarez and Allison withdrew $55,000 and $44,000, respectively, and net income for the year was $140,000. Revenues were $561,000, and expenses were $421,000. The articles of partnership make no reference to the division of net income. a. Journalize the entry to close the revenues and expenses. For a compound transaction, if an amount box does not require an entry, leave it blank. Journalize the entry to close the drawing accounts. For a compound transaction, if an amount box does not require an entry, leave it blank. b. Prepare a statement of partnership equity for the current year for the partnership of Alvarez and Allison. If an amount is zero or a blank, enter in 0. Total Menendez and Breeden Statement of Partnership Equity For the Year Ended December 31, 2014 Angel Alvarez Emma Allison Balances, January 1, 2014 $ Additional investment during the year Net income for the year Withdrawals during the year Balances, December 31, 2014