The net income earned by the cooper, cross, and crane partnership is $18,000. their respective average capital balances are $20,000, $20,000, and $40,000. what is the closing entry to allocate the net income if no agreement was made for division of income? question 10 options: net income cannot be allocated. debit income summary $18,000; credit cooper's capital $4,500; credit cross's capital $4,500; credit crane's capital $9,000 debit cooper's capital $6,000; debit cross's capital $6,000; debit crane's capital $6,000; credit income summary $18,000 debit income summary $18,000; credit cooper's capital $6,000; credit cross's capital $6,000; credit crane's capital $6,000

Variable rate cd’s = $90 treasury bills = $150 discount loans = $20 treasury notes = $100 fixed rate cds = $160 money market deposit accts. = $140 savings deposits = $90 fed funds borrowing = $40 variable rate mortgage loans $140 demand deposits = $40 primary reserves = $50 fixed rate loans = $210 fed funds lending = $50 equity capital = $120 a. develop a balance sheet from the above data. be sure to divide your balance sheet into rate-sensitive assets and liabilities as we did in class and in the examples. b. perform a standard gap analysis and a duration analysis using the above data if you have a 1.15% decrease in interest rates and an average duration of assets of 5.4 years and an average duration of liabilities of 3.8 years. c. indicate if this bank will remain solvent after the valuation changes. if so, indicate the new level of equity capital after the valuation changes. if not, indicate the amount of the shortage in equity capital.