Grit Gritty and Flit Flitty formed a partnerhship in 2013 They contributed capital as follows: GG $300,000 and FF $350,000. The agreement was that they receive the following:- a. Salaries of $40,000 and $60,000 respectively b. Interest on capital balances of 10% Instructions: Show the profit/loss sharing under each of the following condition assuming the income was $90,000 1. The Profit sharing ratio is 30:70 2. There is no agreement as to profit sharing, and the income was $75,000