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/(losses) 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 partners share if the first-year profit was $439,000.

2. Independent of (1), determine each partners share if the first-year loss was $114,000. (Negative answers should be indicated by a minus sign.)