Dallas and Weiss formed a partnership to manage rental properties, by investing $198,000 and $242,000, respectively. During its first year, the partnership recorded profit of $541,000. Required: Prepare calculations showing how the profit should be allocated to the partners under each of the following plans for sharing profit and losses: a. The partners failed to agree on a method of sharing profit. Share to Dallas Share to Weiss Total b. The partners agreed to share profits and losses in proportion to their initial investments Share to Dallas Share to Weiss Total