The partnership agreement of Stone, Miles, and James provides for annual distribution of profit and loss in the following sequence: Interest mdash 12% on average capital investments. Salary mdash $2, 750 a month to Miles and James. Bonus mdash Stone is to be allocated a bonus of 10% of net income after subtracting the bonus, interest, and salary. Remaining profit is to be divided 6:2:2. Average capital investments for the year were: Stone $300.000 Miles $250,000 James $100,000 Prepare a schedule to allocate net income, assuming operations for the year resulted in: Net income of $185,000 Net income of $90,000 Net loss of $35,000 Prepare the journal entry to close the Income Summary account for each situation above