Required information

[The following information applies to the questions displayed below.] Ramer and Knox began a partnership by investing $88,000 and $132,000, respectively.

The partners agreed to share income by granting a $69,000 per year salary allowance to Ramer, a $43,000 per year salary allowance to Knox, 10% interest on their initial capital investments, and the remaining balance shared equally. Net income is $255,000. (Enter all allowances as positive values. Enter losses as negative values.)

	Ramer	Knox	Total
Net Income
Salary allowances			0
Interest allowances			0
Total salary and interest
Balance of income
Balance allocated equally			0
Balance of income
Shares of the partners	$0	$0