Jensen and Stafford began a partnership to start a hardwood flooring installation business, by investing $160,000 and $200,000 respectively. They agreed to share profits/losses by providing yearly salary allowances of $150,000 to Jensen and $75.000 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 $420,000 2. Independent of question 1 above, determine each partner's share if the first year loss was $95.000