Required Information [The following Information applies to the questions dlisplayed below.] Mo Meek, Lu LIng, and Barb Beck formed the MLB Partnership by making capital contributions of $81,900, $318,500, and $509,600, respectively. They predict annual partnership net Income of $534,000 and are considering the following alternative plans of sharing Income and loss: (a) equally, (b) In the ratio of their Initial capltal Investments; or (c) salary allowances of $86,400 to Mo, $64,800 to Lu, and $98,000 to Barb; Interest allowances of 10 % on thelir Initial capital Investments; and the 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 $534,000 for the calendar year under each of the alternative plans being considered. (Do not round intermediate calculations.) Income (Loss) Sharing Plan Plan (a) Mo Lu Barb Total Net Income (loss) S534.000 Balance allocated equally Balance of income (loss) Shares to the partners Total Plan (b) Mo Lu Barb Net Income (loss) Balance allocated in proportion to $534,000 initial investments Balance of income (loss) Shares to the partners Plan (c) Mo Lu Barb Total Net income (loss) S534,000 Salary allowances Balance of income (loss) Interest allowances Balance of income (loss) Balance allocated Balance of income (loss) Shares of the partners