Jensen and Stafford began a partnership to start a hardwood flooring installation business, by investing $176,000 and $216,000, respectively. They agreed to share profits/(losses) by providing yearly salary allowances of $166,000 to Jensen and $91,000 to Stafford, 25% interest allowances on their investments, and sharing the balance 3:2. Required: 1. Determine each partner's share if the first-year profit was $436,000. Profit Salary allowances Interest allowances Share to Jensen Share to Stafford Total Total salaries and interest allocation $ 0 $ 0 0 Balance of profit $ 0 Remainder 3:2 ratio: 0 Balance of profit Shares of each partner 0 $ 0 $ 0 2. Independent of (1), determine each partner's share if the first-year loss was $111,000. (Negative answers should be indicated by a minus sign.) Share to Share to Total Jensen Stafford Total salaries and interest allocation Balance of loss $ 0 $ 0 0 S 0 Remainder 3:2 ratio: 0 Balance of loss Shares of each partner $ 0 $ 0 $ 0