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Jensen and Stafford began a partnership to start a hardwood flooring installation business, by investing $179.000 and $219.000, respectively. They agreed to share profits/(osses) by

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Jensen and Stafford began a partnership to start a hardwood flooring installation business, by investing $179.000 and $219.000, respectively. They agreed to share profits/(osses) by providing yearly salary allowances of $169,000 to Jensen and $94,000 to Stafford, 15% interest allowances on their investments, and sharing the balance 3.2. Required: 1. Determine each partner's share if the first-year profit was $439,000 Share to Share to Stafford TOTAL Total salaries and interest allocation Balance of profe Remainder 32 ratio Balance of prole Shares of each partner 2. Independent of (1), determine each partner's share if the first-year loss was $114,000 (Negative answers should be indicated by minus sign.) Share to Shanto Stafford Total salaries and interest allocation Balance of loss Remainder 32 ratio Balance of loss Shares of each partner

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