Saved Help Sa Ramer and Knox began a partnership by investing $60,000 and $90.000, respectively. The partners agreed to share net income and loss by giving annual salary allowances of $50,000 to Ramer and $40,000 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 $98,800. 2. Determine each partner's share given a first-year net loss of $16,800. Complete this question by entering your answers in the tabs below. Required 1 Required 2 25 Determine each partner's share given a first-year net income of $98,800. S Allocation of Partnership Income Ramer Knox Net Income (loss) Salary allowances $ 50 000 $ 40.000 Balance of income (loss) Interest allowances 6.000 9.000 Balance of income (los) Balance allocated equally Total 98.800 90.000 15.000 B Complete this question by entering your answers in the tabs below. Required 1 Required. 2 ook Hint Determine each partner's share given a first-year net loss of $16,800. Allocation of Partnership Income Ramer Knox Total Net Income (loss) $ (16.800) Salary allowances 50.000 $ 40.000 90.000 Balance of income (loss) Interest allowances 6.000 9.000 15.000 Balance of income (loss) Balance allocated equally 0 Balance of income (loso) Shares of the partners rences