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Use the following information for the Exercises below. (Algo) The following information applies to the questions displayed below) Romer and Knox began a partnership boy investing $76,000 and $114.000 respectively. During its first year the partnership earned $225,000. Prepare calculations showing how the $225,000 income is allocated under each separate plan for sharing income and loss a Exercise 12.5 (Algo) Part 2 Income allocation in a partnership LO P2 2. The partners agreed to share income and loss in proportion to their initial Investments. Net Income is $225.000. (Do not round intermediate calculations.) Fraction to Allocate Ramer's Share Fraction to Allocate Knox's Share of Total income Ramer of income Knox Income Allocated 5 90,000 $110,000$190,000 135,000 $ 225,000 $114,000/$190,000 $125,000 / $50,000 $125,000 / $75,000 $50,000 / $125,000