Ramer and Knox began a partnership by investing $61,000 and $91,000, respectively. The partners agreed to share net income and loss by giving annual salary allowances of $50,500 to Ramer and $40,400 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 $99,800. 2. Determine each partner's share given a first-year net loss of $17,800. 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 $99,800. Net Income loss) Salary allowances Balance of income (loss) $ 50,500 $ 40,400 99,800 90,900 8,900 18,240 7,320 10.920 Balance of income (loss) Balance allocated equally Balance of income (loss) Shares of the partners Required 2 > Ramer and Knox began a partnership by investing $61,000 and $91,000, respectively. The partners agreed to share net income and loss by giving annual salary allowances of $50,500 to Ramer and $40,400 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 $99,800. 2. Determine each partner's share given a first-year net loss of $17,800. 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 $17,800. Total (17,800) $ Allocation of Partnership Income Ramer Knox Net Income (loss) Salary allowances Balance of income (loss) Interest allowances Balance of income (loss) Shares of the partners