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Ramer and Knox began a partnership by investing $90,000 and $135,000, respectively The partners agreed to share net income and loss by granting annual salary allowances of $70,000 to Ramer and $44,000 to Knox, 8% interest allowances on their investments, and any remaining balance shared equally. (Enter all allowances as positive values. Enter losses as negative values.) Required 2a. Determine the partners shares of Ramer and Knox given a first year net income of $118,800 2b. Determine the partners' shares of Ramer and Knox given a first-year net loss of $36,800o Complete this question by entering your answers in the tabs below. Req 2A Req 2B Determine the partners' shares of Ramer and Knox given a first-year net income of $118,800 Allocation of Partnership Income Ramer Knox S 118,800 114,000 4.800 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 $ 70,00044,000 7 20or 10800 18,000 10,800 S 71,600 46.40 PreNext >