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Hello. I need help with b and c, I'm not sure what to do and I need an explanation. Thank you. 12 Chapter 12 E12-6

Hello. I need help with b and c, I'm not sure what to do and I need an explanation. Thank you. image text in transcribed
12 Chapter 12 E12-6 Ken Danolo and Jim Goldman form a partnership, investing 596,000 and 5168,000, respectively. Determine their shares of net income or net loss for each of the following situations: a. Net loss is $124,800 and the partners have no written partnership agreement b. Net income is $105,600 and the partnership agreement states that the partners share profits and losses based on their capital investments c. Net income is $264,000. The first $132,000 is shared based on the partner's capital investments. The next $100,000 is shared based on partner service, with Danolo receiving 40 percent and Goldman receiving 60 percent. The remainder is shared equally. a.-C

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