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 $$541,000.$Required:Prepare calculations showing how the profit should be allocated to the partners under each of the following plans for sharing profit and losses:a$.$ The partners failed to agree on a method of sharing profit.Share toDallasShare to WeissTotalb. The partners agreed to share profits and losses in proportion to their initial investments.c$.$ The partners agreed to share profit by allowing a $$159,000$ per year salary allowance to Dallas, an $$89,000$ per year salary allowance to Weiss, $20\%$ interest on their initial investments, and sharing the balance equally. $($Leave no cell blank. Enter $"0"$ when the answer is zero.$)$