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Ramer and Knox began a partnership by Investing $65,000 and $95,000, respectively. The partners agreed to share net income and loss by giving annual salary allowances of $52,500 to Ramer and $42,000 to Knox, 12% interest allowances on their investments, and any remaining balance shared equally. (Enter all allowances as positive values. Enter losses as negative values.) Required: 1. Determine each partner's share given a first-year net income of $103,800 2. Determine each partner's share given a first-year net loss of $21,800. 28 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine each partner's share given a first-year net income of $103,800. Allocation of Partnership Income Ramer Knox Total Net Income (loss) $ 103,800 Salary allowances Balance of income (loss) Interest allowances Balance of income (loss) Balance allocated equally Balance of income (loss) Shares of the partners Required 2 > Ramer and Knox began a partnership by investing $65,000 and $95.000, respectively. The partners agreed to share net income and loss by giving annual salary allowances of $52,500 to Ramer and $42,000 to Knox, 12% interest allowances on their investments, and any remaining balance shared equally (Enter all allowances as positive values. Enter losses as negative values.) Required: 1. Determine each partner's share given a first-year net income of $103,800. 2. Determine each partner's share given a first-year net loss of $21,800 Complete this question by entering your answers in the tabs below. Required 1 Reguiled 2 Determine each partner's share given a first-year net loss of $21,800. Allocation of Partnership Income Ramer Knox Total $ (21,800) Net Income (loss) Salary allowances Balance of income (loss) Interest allowances Balance of income (loss) Balance allocated equally Balance of income (loss) Shares of the partners