Item$320$points Return to question Item $3$ On March $1,$ Eckert and Kelley formed a partnership. Eckert contributed $$100,000$ cash, and Kelley contributed land valued at $$80,000$ and a building valued at $$110,000.$ The partnership also took Kelley$$s $$90,000$ long$-$term note payable associated with the land and building. The partners agreed to share income as follows: Eckert gets an annual salary allowance of $$30,000,$ both get an annual interest allowance of $12\%$ of their initial capital investment, and any remaining income or loss is shared equally. On October $20,$ Eckert withdrew $$30,000$ cash and Kelley withdrew $$23,000$ cash. First year income was $$86,000.$ Required: $1$c$.$ Determine the partners' shares of income, and then prepare journal entries to close Income Summary and the partners' withdrawals accounts. $2.$ Determine the balances of the partners$$ capital accounts as of December $31.3.$ Determine the partners$$ shares of income, and then prepare journal entries to close Income Summary and the partners' withdrawals accounts.