Dividing Partnership Net Loss Leigh Meadows and Byron Leef formed a partnership in which the partnership agreement provided for salary allowances of $40,000 and 535,000, respectively. Determine the division of a $20,000 net loss for the current year, assuming remaining Income or losses are shared equally by the two partners. Use the minus sign to indicate any deductions or deficiencies Leigh Meadows Byron Leef Total Salary Allowance 40,000 35,000 75,000 Remainder Net Loss