mbul Vale cuany. rcise 11-5 Profit allocation in a partnership LO3 GURES: 1. Jensen: $255,800, Stafford: $164,200, 2. Jensen: $(53,200): Stafford: $(41,800) CHECK FIGURES: 1 Jensen and Stafford be and Stafford began a partnership to start a hardwood flooring installation business, by investing hand $200,000, respectively. They agreed to share profits/(losses) by providing yearly salary allowan- 150,000 to Jensen and $75,000 to Stafford, 20% interest allowances on their investments, and sharing ces of $150,000 to Jense the balance 3:2 Required Determine each partner's share if the first-year profit was $420,000. 2. Independent of (1), determine each partner's share if the first-year loss was $95,000