3. Ben Conway, Ida Chan, and Clair Scott formed CCS Consulting this year by making capital contributions of $250,000, $400,000, and $150,000, respectively. They anticipate annual loss of $200,000 and are considering the following alternative plans of sharing profits and losses: 1. II. In the ratio of their initial investments; or Salary allowances of $100,000 to Conway, $90,000 to Chan, and $50,000 to Scott and interest allowances of 15% on initial investments, with any remaining balance shared in the ratio of 3:2.1. Required: 1. Use the schedule to show how a loss of $200,000 would be distributed under each of the alternative plans being considered. (Round to the nearest dollar if needed.) (18 points) Profit (LOSS) Sharing Plan Calculations Share to Conway Share to Chan Share to Scott Total Profit/loss CIL Profit/loss Salary allowances Interest allowances Total salaries and interest allocation Balance of Profit loss Balance allocated Balance of Profit Shares of partners