Solution 1:

even out usually means to make something more even, flat or fair.

ex. She will get more money up front, but you will get more later, and it will even out in the end. The pavers worked all day to even out the road

even up has a very similar meaning, but implies a more active role, or demonstrates that two things have come to the same level.

ex. After the poker game, the players cashed in their chips to even up.

After I poured the drinks, I saw that one cup was half-filled, so I used water to even them up.