Will Beck, Ron Beck, and Barb Beck formed the BBB Partnership by making capital contribution

Will Beck, Ron Beck, and Barb Beck formed the BBB Partnership by making capital contribution of $183,750, $131,250 and $210,000, respectively. They predict annual partnership net income of $225,000 and are considering the following alternative plans of sharing income and loss; (a) equally; (b) in the ratio of their initial capital investments; or (c) salary allowance of $40,000 to Will, $30,000 to Ron, and $45,000 to Barb, interest allowances of 10% on their initial capital investments; and the balance shared equally.
1.Prepare a table with the following column headings

Income(loss) Calculations Will Ron Barb Total
Sharing Plan
Use the table to show how to distribute net income of $225,000 for the calendar year under each of the alternative plans being considered.
2. prepare a statement of partners' equity showing the allocation of income to the partners assuming they agree to use plan (c), that income earned is $104,000 and that Will, Ron, and Barb withdraw $17,000,$24,000 and $32,000 respectively, at year-end
3. Prepare the December 31 journal entry to close Income Summary assuming they agree to use plan (c) and that net income is $104,500. Also close the withdrawals accounts