Ramer and Knox began a partnership by investing $60,000 and $90,000, respectively. The partners agreed to share net income and loss by giving annual salary allowances of $50,000 to Romer and $40,000 to Knox, 10% 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 $98,800. 2. Determine each partner's share given a first-year net loss of $16,800. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine each partner's shore given a first-year net income of $98,800. Allocation of Partnership Income Ramer Knox Total Not Income (los) $ 98,800 Salary allowances 0 Balance of income (los) Interest allowances Balance of income Oss) Balance allocated equally Balance of income (ous) Shares of the partners Required 2 > 0