Jensen and Stafford began a partnership to start a hardwood flooring installation business, by investing $171,000 and $211,000, respectively. They agreed to share profits/(losses) by providing yearly salary allowances of $161,000 to Jensen and $86,000 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 $431,000. Share to Jensen Share to Stafford Total Total salaries and interest allocation Balance of profit $ 0 $ 0 0 $ Remainder 3:2 ratio: Balance of profit Shares of each partner 0 0 S 0 S 2. Independent of (1), determine each partner's share if the first-year loss was $106,000. (Negative answers should be indicated by a minus sign.) Share to Jensen Share to Total Stafford Total salaries and interest allocation Balance of loss $ 0 $ 0 0 $ 0 Remainder 3:2 ratio: 0 Balance of loss Shares of each partner $ 0 $ 05 0