Nancy and Betty enter into a partnership agreement where they decide to share profits according to the following rules:

(a) Nancy and Betty will receive salaries of $1,600 and $11,500 respectively as the first allocation.

(b) The next allocation is based on 20% of each partner's capital balances.

(c) Any remaining profit or loss is to be allocated completely to Betty.

The partnership's net income for the first year is $50,000. Nancy's capital balance is $91,000 and Betty's capital balance is $9,000 at the end of the year.

Calculate the share of profit/loss to be allocated to Nancy and Betty.

	Nancy	Betty	Total