Book Print ferences: Jensen and Stafford began a partnership to start a hardwood flooring installation business, by investing $161,000 and $201.000. respectively. They agreed to share profits/(losses) by providing yearly salary allowances of $151,000 to Jensen and $76,000 to Stafford, 15% Interest allowances on their investments, and sharing the balance 3:2. Required: 1. Determine each partner's share if the first-year profit was $421,000. Share to Jensen Share to Stafford Total Total salaries and interest allocation Balance of profit Remainder 3.2 ratio Balance of profit Shares of each partner ces 2. Independent of (1), determine each partner's share if the first-year loss was $96,000. (Negative answers should be indicated by a minus sign.) Total salanes and interest allocation Balance of loss Remainder 3.2 ratio Balance of loss Shares of each partner Share to Jensen Share to Stafford Total