! Required information [The following information applies to the questions displayed below.] Mo Meek, Lu Ling, and Barb Beck formed the MLB Partnership by making capital contributions of $83,700, $325,500, and $520,800, respectively. They predict annual partnership net income of $544,500 and are considering the following alternative plans of sharing income and loss: (a) equally; (b) in the ratio of their initial capital investments; or (c) salary allowances of $87,200 to Mo, $65,400 to Lu, and $99,000 to Barb; interest allowances of 10% on their initial capital investments; and the balance shared as follows: 20% to Mo, 40% to Lu, and 40% to Barb. Required: 1. Use the table to show how to distribute net income of $544,500 for the calendar year under each of the alternative plans being considered. (Do not round intermediate calculations.) Plan (a) Net Income (loss) Balance allocated equally Balance of income (loss) Income (Loss) Sharing Plan Lu 1/3 $181,500 Shares to the partners Plan (b) Net Income (loss) Balance allocated in proportion to $83,700/$930,000 initial investments Balance of income (loss) Shares to the partners Plan (c) Net income (loss) $ 181,500 Mo $ 0 Mo Barb Total 1/3 $181,500 1/3 $ 181,500 $ 544,500 544,500 $ 0 $325,500/$930,000 $ 181,500 Lu $ Lu 0 $520,800/$930,000 $181,500 $544,500 Barb Total $ 544,500 $ Barb 0 $ 544,500 0 $ Total 0 $ 544,500