Frantz and Hunter form a partnership, contributing $37,500 and $87,500, respectively. Determine their shares of net income or net loss for each of the following independent situations: (Use a minus sign or parentheses when entering losses.) (Click on the icon view the independent situations.) Determine partners' shares of net income or net loss for situation a Net income (loss) Frantz Hunter Total Situation a. a. Net loss is $150,000 and the partners have no written partnership agreement. b. Net income is $130,000 and the partnership agreement states that the partners share profits and losses on the basis of their capital balances. c. Net income is $170,000. The first $102,000 is shared on the basis of capital balances. The next $51,000 is based on partner service, with Frantz receiving 20% and Hunter 80%. The remainder is shared equally.