Jenkins, Willis, and Trent invested $204 , 000 , $357 , 000 , and $459 , 000 , respectively, in a partnership. During its first year, the firm recorded profit of $603 , 000 Required: Prepare entries to close the firm's Income Summary account as of December 31 and to allocate the profit to the partners under ea the following assumptions: a. The partners did not produce any special agreement on the method of distributing profits. Journal entry worksheet Journal entry worksheet Record to close income summary account. Note: Enter debits before credits. . The partners agreed to share profit and losses in the ratio of their beginning investments. Journal entry worksheet Record to close income summary account. Note: Enter debits before credits. c. The partners agreed to share profit by providing annual salary allowances of $111 , 000 to Jenkins, $121 , 000 to Willis, and $56 , 000 to Trent; allowing 20% interest on the partners' beginning investments; and sharing the remainder equally. Journal entry worksheet Record to close income summary account. Note: Enter debits before credits