! Required information (The following information applies to the questions displayed below) 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 allocated under each separate plan for sharing income and loss. 3. The partners agreed to share income by giving a $59.000 per year salary allowance to Ramer a $41000 per year salary allowance to Knox, 15% interest on their initial capital investments, and the remaining balance shared equally Net Income is $205.000 (Enter all allowances as positive values. Enter losses as negative values.) Ramer Knox Total $ 205,000 100.000 10.200 $ 41000 59,000 $ 10,200 Net Income Salary allowances Interest allowances Total salary and interest Balance of income Balance allocated equally Balance of income Shares of the partners 0 $ 69 200 $ 41000