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 $84,600, $329,000, and $526,400, respectively. They predict annual partnership net income of $550,500 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 $87,600 to Mo, $65700 to Lu, and $99,500 to Barbi 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 Part 1 of 3 Required 1. Use the table to show how to distribute net income of $550,500 for the calendar year under each of the alternative plans being considered. (Do not round intermediate calculations.) Income (Loss) Sharing Plan Lu Barb- Total S 550,500 3 S 550,500 1651.500 Net Income (loss) Balance allocated equally Balance of income (loss) 3 S 550,500 13 S 550,500 1.101000