Jensen and Stafford began a partnership to start a hardwood flooring installation business, by investing $166,000 and $206,000, respectively. They agreed to share profits/(losses) by providing yearly salary allowances of $156,000 to Jensen and $81,000 to Stafford, 20% interest allowances on their investments, and sharing the balance 3.2. Required: 1. Determine each partner's share if the first-year profit was $426,000. Share to Jensen Share to Stafford Total 1 S 0$ 0 Total salaries and interest allocation Balance of profit 0 0 $ 0 Romainder 3:2 ratio Balance of profit Shares of each partner s 0 $ 0 S O 2. Independent of (1), determine each partner's share if the first-year loss was $101,000 (Negative answers should be indicated by a minus sign.) Share to Jensen Share to Stafford Total $ 0 $ 0 0 Total salaries and interest allocation Balance of loss $ 0 0 Remainder 32 ratio Balance of loss Shares of each partner 0$ 0 0