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Hm, Jones, and Vose have been partners throughout 2016. Their average balances for the year and their balances at the end of the year before closing the nominal accounts are as folows Hill Jones Vose 12/31/1 97,500 $70,000 27,300 21,800 14,250 11,700 Debit balance. An al s ary al i re The income for 2016 is $10 be recharging partners salary allow ances and before payment of interest on average balances at the agre date of 5% per annum $12,000 to Hill, $9,600 to Jones, and $8,800 to Vose. The balance of income is to be allocated at the rate of 60% to HI, 10% to Jones, and 30% to Vose. partners' accounes weill be proportionate to It is intended to distribute cash to the partners so that, after credits and allocations have been made as indicated in the preceding paragraph, the balances in the their residuai proft-sharing ratios. None of the partners is to Invest aditional cash, but they wish to distribute the lowest possible amount of cash. Prepare a schedule of partners' accounts, showing balances at the end of 2016 before closing, the allocations of the net income for 2016, the cash distributed, and the dosing balances to o decimal places, e.g.5,125. List items that increase partners' capital first.) (Round answers Question Attempts: 0ef 2 used 8 4