Required information [The following information applies to the questions displayed below.] Ramer and Knox began a partnership by investing $52,000 and $78,000, respectively. During its first year, the partnership earned $165,000. Prepare calculations showing how the $165,000 income is allocated under each separate plan for sharing income and loss. 3. The partners agreed to share income by giving a $51,000 per year salary allowance to Ramer, a $41,000 per year salary allowance to Knox, 10% interest on their initial capital investments, and the remaining balance shared equally. Net income is $165,000. (Enter all allowances as positive values. Enter losses as negative values.) Net Income S Salary allowances Interest allowances Total salary and interest Balance of income Ramer Knox Total Balance allocated equally Balance of income Shares of the partners $ $ 0 0 0 0