Kramer and Knox began a partnership by investing $52,000 and $56,000, respectively. Assume that the partners agreed to share net income and loss by granting annual salary allowances of $55,500 to Kramer and $45,500 to Knox. 12% interest allowances on their investments, and any remaining balance shared equally. Determine the partners' shares of Kramer and Knox given a first-year net income of S90.800. Determine the partners' shares of Kramer and Knox given a first-year net loss of $12,000