4 Part 3 of 3 Required information Use the following information for the Exercises below. (Algo) The following information applies to the questions displayed below) Ramer and Knox began a partnership by investing $68,000 and $102,000, respectively During its first year, the partnership earned $205,000. Prepare calculations showing how the $205.000 income is allocated under each separate plan for sharing income and loss 4.34 ponts eBook Exercise 12-5 (Algo) Part 3 Income allocation in a partnership LO P2 Hint 3. The partners agreed to share income by giving a $59.000 per year salary allowance to Ramer, a $41000 per year salary allowance to Knox, 15% Interest on their initial capital investments, and the remaining balance shared equally Net Income is $205,000. (Enter all allowances as positive values. Enter losses as negative values.) Punt Ramer Knox Total References Net Income Salary allowances Interest allowances Total salary and interest Balance of income Balance allocated equally Balance of income Shares of the partners