Exercise 11-4 Profit allocation in a partnership LO3 Dallas and Weiss formed a partnership to manage rental properties, by investing $128,000 and $192,000, respectively. During its first year, the partnership recorded profit of $450,000 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