Romer and Knox began a partnership by investing $69.000 and $99,000, respectively. The partners agreed to share net income and loss by giving annual salary allowances of $54,500 to Ramer and $43,600 to Knox, 10% interest allowances on their investments, and any remaining balance shared equally. (Enter all allowances as positive values. Enter losses as negative values.) Required: 1. Determine each partner's share given a first-year net income of $107,800. 2. Determine each partner's share given a first-year net loss of $25,800. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine each partner's share given a first-year net income of $107,800. Allocation of Partnership Income Ramer Knox Net Income (loss) Salary allowances 54,6003 43,600 Balance of income (los) Interest allowances 6,900 9,900 Balance of income (loss) Balance allocated equally (3,550) (3,550) Balance of income (loss) Shares of the partners $ 57,850 49,950 Total $ 107,800 98,100 9,700 16,800 (7100) (7.100) 0 Required Required 2 > Ramer and Knox began a partnership by investing $69,000 and $99.000, respectively. The partners agreed to share net income and loss by giving annual salary allowances of $54,500 to Ramer and $43,600 to Knox, 10% interest allowances on their investments, and any remaining balance shared equally. (Enter all allowances as positive values. Enter losses as negative values.) Required: 1. Determine each partner's share given a first-year net income of $107,800. 2. Determine each partner's share given a first-year net loss of $25,800. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine each partner's share given a first-year net loss of $25,800. Allocation of Partnership income Ramer Knox Total Net Income (loss) $(25,800) Salary allowances 15 54,500 43,600 98,100 Balance of income (loss) Interest allowances 6,900 9.900 16,800 Balance of income (106) (42.600) Balance allocated (21,300) (21,300) (42.600) equally Balance of income foss) 0 Shares of the partners 340.100 32 2001