Dallas and Weiss formed a partnership to manage rental properties, by investing $144,000 and $216,000, respectively. During its first year, the partnership recorded profit of $469,000 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. Total Share to Share to Dallas Weiss $ 234,500 $ 234,500 $ Profil 469,000 b. The partners agreed to share profits and losses in proportion to their initial investments. Total Share to Share to Dallas Weiss 187,600 $ 281,400 $ Profit 469,000 c. The partners agreed to share profit by allowing a $151,000 per year salary allowance to Dallas, an $81,000 per year salary allowance to Weiss, 20% interest on their initial investments, and sharing the balance equally (Leave no cell blank. Enter "O" when the answer is zero.) Share to Dallas Share to Weiss Total $ 469,000 $ 81,000 Pront Salary allowances Interest allowances Total salaries and interest allocation Balance of profit 151,000 $ 28,800 179,800 5 43,200 124 200 $ (304.000) 165,000 $ (97,300) 139.000 Balance allocated equally Balance of pront Shares of each partner (41 700) S 82.500 5 $ 82.500 5 0 469.000