Ramer and Knox began a partnership by investing $$68,000$ and $$98,000,$ respectively. The partners agreed to share net income and loss by giving annual salary allowances of $$54,000$ to Ramer and $$43,200$ to Knox,$12\%$ interest allowances on their investments, and any remaining balance shared equally.

Note: Enter all allowances as positive values. Enter losses as negative values.

Required:

Determine each partner's share given a first$-$year net income of $$106,800.$

Determine each partner's share given a first$-$year net loss of $$24,800.$

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 loss of $$24,800.$

$\backslash$table$[[$Allocation of Partnership Income,$],[$Net Income $($loss$),$Ramer,Knox,Total$],[$Salary allowances,,,$(24,800)$