Kara Ries, Tammy Bax, and Joe Thomas invested $60,000, $76,000, and $84,000, respectively, in a partnership. During its first calendar year, the firm earned $354,300. Prepare the entry to close the firm's Income Summary account as of its December 31 year-end and to allocate the $354,300 net income to the partners under each of the following separate assumptions: Problem 12-3A Part 2 (2) The partners agreed to share income and loss in the ratio of their beginning capital investments. (Do not round intermediate calculations. Round final answers to the nearest whole dollar.) Supporting Percentage of Computations Total Equity Kara Ries Tammy Bax Joe Thomas x Income Allocated Income Summary to Capital x View transaction list Journal entry worksheet 1 Record the entry to close the income summary account assuming the partners have agreed to share income and loss in the ratio of their beginning capital investments Note: Enter debits before credits. General Journal Debit Credit Date Dec 31 Record entry View general journal Clear entry