1. Ahmed and Ali are partners in a small business. Their partnership agreement states that net income is divided based on annual salaries of $20000 for Ahmed and $25000 for Ali, and an income ratio of 3:2. Calculate the net income allocation and record the journal entry, based on the following unrelated situations: (a) net income of $100000 (b) net loss of $4000. 2. Business partners Baliva, Masi, and Romalati have a partnership agreement that outlines a detailed formula for sharing profits and losses. Baliva, Masi, and Romalati earn annual salaries of $60000,$70000, and $80000 respectively. They also earn a fixed percentage of interest on their capital balances which are $50000,$50000, and $70000 respectively. Any remaining income is allocated using an income ratio of 30%,30% and 40% respectively. Calculate the net income allocation and record the journal entry under the following unrelated situations: (a) net income of $400000, and 7% on capital balances (b) net income of $50000, and 5% on capital balances. \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{2}{|c|}{ General Journal } & & \multicolumn{1}{c|}{ Page } \\ \hline Date & Particulars & Debit & Credit \\ \hline \end{tabular} a) b)