Return to question 7 0 Required information Part 1 of 3 [The following information applies to the questions displayed belowj Mo Meek, Lu Ling, and Barb Beck formed the MLB Partnership by making capital contributions of $72,000 $280,000, and $448,000, respectively. They predict annual partnership net income of $477000 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 $82,000 to Mo, $61,500 to Lu, and $92,500 to Barb; 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 1.81 points Required 1. Use the table to show how to distribute net income of $477000 for the calendar year under each of the alternative plans being considered. (Do not round intermediate calculations.) Answer is not complete. Income (Loss) Sharing Plan Total Plan (a) Net Income (loss) Mo Lu Barb 477,000