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3 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 594,000 to Stafford, 15% interest allowances on their investments, and sharing the balance 32 Required: 1. Determine each partner's share if the first year profit was was 5439,000 12 points Share to Jensen Share to Stafford Total ook $ 0 s Total salaries and interest allocation Balance of profit $ Remainder 3 2 ratio Balance of profit Shares of each partner $ 0 $ 0 $ 0 3 2. Independent of (1. determine each partner's share if the first-year loss was $114,000 (Negative answers should be indicated by minus sign.) 12 poines Share to Jensen Share to Stafford Total ebook 5 os 0 0 Total salaries and interest allocation Balance of loss $ 0 0 Remainder 3 2 ratio Balance of loss Shares of each partner 5 05 05 0