Ramer and Knox began a partnership by investing $56,000 and $84,000, respectively.

3. The partners agreed to share income by giving a $53,000 per year salary allowance to Ramer, a $43,000 per year salary allowance to Knox, 10% interest on their initial capital investments, and the remaining balance shared equally. Net income is $175,000. (Enter all allowances as positive values. Enter losses as negative values.)

	Ramer	Knox	Total
Net Income			$175,000
Salary allowances			0
Interest allowances			0
Total salary and interest
Balance of income
Balance allocated equally			0
Balance of income
Shares of the partners	$0	$0