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Ramer and Knox began a partnership by investing $66,000 and $96,000, respectively. The partners agreed to share net income and loss by giving annual salary allowances of $53,000 to Ramer and $42,400 to Knox, 10% interest allowances on their investments, and any remaining balance shared equally. (Enter all allowances as positive values. Enter losses as negative values.) Required: 1. Determine each partner's share given a first-year net income of $104,800. 2. Determine each partner's share given a first-year net loss of $22,800. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine each partner's share given a first-year net loss of $22,800. Total $ (22,800) 95,400 Allocation of Partnership Income Ramer Knox Net Income (loss) Salary allowances $ 53,000 $ 42,400 Balance of income (loss) Interest allowances 6,600 9,600 Balance of income (loss) Balance allocated equally Balance of income (loss) Shares of the partners 16,200 0 - Powder Minut