Required Information The following information applies to the questions displayed below] Mo. Lu, and Barb formed the MLB Partnership by making investments of $67.500, $262.500, and $420,000, respectively. They predict annual partnership net Income of $450,000 and are considering the following alternative plans of sharing Income and loss (a) equally: (b) in the ratio of their initial capital Investments or salary allowances of $80,000 to Mo, $60,000 to Lu, and $90,000 to Barb: Interest allowances of 10% on their Initial capital Investments, and the remaining 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 $450,000 for the calendar year under each of the alternative plans being considered. (Do not found Intermediate calculations.) Income (Loss) Sharing Plan Mo LU 150,000 1/3 s 150,000 1/3 s Barb S 150,000 S 150,000 $ Barb S Total 450.000 450.000 ol 450,000 Total 450.000 S s 3 150,000 Mo 150.000 LU 450.000 Plan (a) Net Income (loss) Balance allocated equally Balance of income loss) Shares to the partners Plan (b) Net Income loss Balance allocated in proportion to initial investments Balance of income foss) Shares to the partners Plan (c) Net income foss Salary allowances Balance of income foss) Interest allowances Balance of noome (los) Balance allocated Balance of income 1055 5 $ 5420.000/$750,000 0 Barb 567,500 Lu Mo Total 460.000 3 S67.500/$750,000 5750.000 $750,000/$262.500 $750.000 +420.000 0 $