Dividing partnership net loss Morgan Graff and Serigo Vargas formed a partnership in which the partnership agreement provided for salary allowances of $50,000 and $44,000, respectively. Determine the division of a $25,000 net loss for the current year, assuming that remaining income or losses are shared equally by the two partners. Use the minus sign to indicate any deductions or deficiencies. Morgan Graff Serigo Vargas Salary Allowance $ 50,000 44,000 SA Remainder -12,500 X -12,500 X $ A Total 94,000 -25,000 X Net Loss -12,500 X -12,500 X $ -25,000