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. (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 $106,800. 2. 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 income of $106,800. Allocation of Partnership Income Ramer Knox Total Net Income (loss) Salary allowances $ 106,800 Balance of income (loss) Interest allowances Balance of income (loss) $ 54,000 $ 43,200 97,200 9,000 8,160 11,760 19,920 10,320 Balance allocated equally (5,160) (5,160) (10,320) Balance of income (loss) $ 20,640 Shares of the partners S 57,000 $ 49.800 Begirad Required 2 >