Debit Import a new list Record the entry to close the income summary account assuming the partners have agreed to share income and loss by providing annual salary allowances of $32,000 to Ries, $27,000 to Bax, and $39,000 to Thomas; granting 10% interest on the partners' beginning capital investments; and sharing the remainder equally. 1 y Bax. and Joe Thomas invested $36,000, $52.000, and $60,000,respectively, in a partnership. During ts first calendar year, the firm earned $342.000 2,000 net income to the partners under each of the following separate assumptions s of $32,000 to Ries, $27,000 to Bax, and granting 10% interest on the partners beginning capital investments, and sharing the remainder equally $39,000 to Thomas; 32000 S 270oof s 39 98,000 3,6005,2006,000 229.200 76 76.400