Instructions Ron and Chris enter into a partnership agreement where they decide to share profits according to the following rules: (a) Ron and Chris will receive salaries of $3,900 and $10,200 respectively as the first allocation. (b) The next allocation is based on 10% of each partner's ending capital balances. (e) Any remaining profit or loss is to be divided equally between the partners. The partnership's net income for the first year is $59,725. Ron's capital balance is $79,000 and Chris's capital balance is $25,000 at the end of the year. Find out the profit Ron and Chris get? Submit detailed explanation on paper or ON MS WORD