PM Save Homework: Homework Assignment Chapter 12 Exercises Score: 0 of 1 pt 2 of 4 (1 complete) EF12-16 (similar to) HW Score: 25%, 1 of 4 pts Question Help Payton and Walter have formed a partnership. During their first year of operations, the partnership camed $130,000. Their profit-and-loss-sharing agreement states that first, each partner will receive 25% of their capital balances. The second level is based on services, with $14,000 to Payton and $16,000 to Walter. The remainder then will be shared 4-1 between Payton and Walter, respectively Read the requirements Requirement 1. Calculate the amount of income each partner will receive under their profit-and-loss-sharing agreement assuming Payton's capital balance is $75,000 and Walter's capital balance is $75,000. (Complete all answer boxes. For amounts that are $0, make sure to enter in the appropriate column) Payton Walter Total Net Income foss) Capital allocation: Payton Walter Salary allowance: Paylon Walter Total salary and capital alocation Net Income (los) remaining for location Share of remainder: Payton Walior Total location Not come dow) remaining for location Not income (los) allocated to the partners LILI IN