Assume the partners of Exercise 12-2 agreed to share net incomes and losses by allowing yearly salary allowances of \(\$ 85,000\) to Newberg and \(\$ 65,000\) to Scampi, \(10 \%\) interest allowances on their investments, and the balance equally.

(a) Determine the shares of Newberg and Scampi in a first-year net income of \(\$ 145,300\).

(b) Determine the partners' shares in a first-year net loss of \(\$ 30,200\).