omework Saved Ramer and Knox began a partnership by investing $63,000 and $93,000, respectively. The partners agreed to share net income and loss by giving annual salary allowances of $51,500 to Ramer and $41,200 to Knox, 12% interest allowances on their investments, and any remaining balance shared equally. (Enter all allowances as positive values. Enter losses as negative values.) Required: 1. Determine each partner's share given a first-year net income of $101,800 2. Determine each partner's share given a first-year net loss of $19,800. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine each partner's share given a first-year net income of $101,800. Allocation of Partnership Income Ramer Knox Total Net Income (loss) $ 101,800 Salary allowances $ 51,500 $ 41,200 92,700 Balance of income (loss) Interest allowances 0 Balance of income (loss) Balance allocated equally 0 Balance of income (loss) Shares of the partners