Ramer and Knox began a partnership by investing $68,000 and $102,000, respectively. During its first year, the partnership earned $205,000. Prepare calculations showing how the $205,000 income is allocated under each separate plan for sharing income and loss. The partners agreed to share income and loss in proportion to their initial investments. Net income is $205,000. Note: Do not round intermediate calculations.

Fraction to allocate Ramer

Ramer's share of income

Fraction to allocate Knox

Knox's share of income total income allocated