Jenkins, Willis, and Trent invested $260,000,$455,000, and $585,000, respectively, in a parthership. During its fist year, the firm recorded profit of $648,000 Required: Prepare entries to close the firm's income Summary account as of December 31 and to allocate the profit to the parthers under each of the following assumptions: a. The partners did not produce any special agreement on the method of distributing profits. Journal entry worksheet 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 $125,000 to Jenkins, $135,000 to Wilis, and $70,000 to Trent; allowing 15% 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