Nancy and Betty enter into a partnership agreement whereby they undertake to share profits according to the following rules: (a) Nancy and Betty will receive salaries of $14,500 and $22,500 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 loss for the first year is $50,000. Nancy's capital balance is $98,000 and Betty's capital balance is $9000 at the end of the year. Calculate the share of profit (loss) to be allocated to Nancy. a. 514,500 7 b. $34,100 c. $(84,100) d $(19,600)