$!$

Required information

$[$The following information applies to the questions displayed below.$]$

Ramer and Knox began a partnership by investing $$60,000$ and $$90,000,$ respectively. During its first year, the partnership earned $$160,000.$ Prepare calculations showing how the $$160,000$ income is allocated under each separate plan for sharing income and loss.

The partners did not agree on a plan, and therefore share income equally.