- Frantz and Hardingan form a partnership contributing 590,000 and $30,000, respectively. Determine their shares of net income or not loss for each of the following independent situations: (Use a minus sign or parentheses when entoring losses.) Click on the icon to view the independent situations.) Determine partners' shares of net income or net loss for situation a. More Info Net income (foss) Frantz Hardingan Total a. Not loss is 580,000 and the partners have no written partnership agreement Situation a. b. Not income is $70,000 and the partnership agreement states that the partners share profits and losses on the basis of their capital balances G. Not income is $100.000. The first $90,000 is shared on the basis of capital balances. The next 548,000 is based on partner service, with Frantz receiving 25% and Hardingan 75%. The remainder is shared equally Print Done Enter any number in the edit fields and then click Check Answer Clear All Check Answer 2 parts remaining