KARL, ALEX and DAGOHOY entered into a partnership called KALEDAG & Co. whereby each of them contributed P30,000 in cash. They agreed on a PROFIT SHARING AGREEMENT, as follows: KARL.........40% ALEX........30% DAGOHOY.........30% How much shall each partner share in profits if they were not able to stipulate a profit agreement? Explain.(2.5pts) Suppose losses occur, and only a profit sharing agreement is stipulated, how much shall each partner share on the losses?(2.5pts)