The following information applies to the questions displayed below.]

Cosmo and Ellis began a partnership by investing $50,000 and $75,000, respectively. During its first year, the partnership earned $165,000. Prepare calculations showing how the $165,000 income should be allocated to the partners under each of the following three separate plans for sharing income and loss:

(1)	The partners failed to agree on a method to share income.(Omit the "$" sign in your response.)

Cosmo	$
Ellis	$

(2)	The partners agreed to share income and loss in proportion to their initial investments.(Do not round your intermediate calculations. Round your answers to the nearest dollar amount. Omit the "$" sign in your response.)

Cosmo	$
Ellis	$

(3)

The partners agreed to share income by granting a $55,000 per year salary allowance to Cosmo, a $45,000 per year salary allowance to Ellis, 10% interest on their initial capital investments, and the remaining balance shared equally.(Input all amounts as positive values. Leave no cells blank - be certain to enter "0" wherever required. Omit the "$" sign in your response.)

	Cosmo	Ellis	Total
Net income			$
Salary allowances
	$	$
Interest allowances
Total salary and interest
Balance of income
Balance allocated equally
Balance of income			$
Shares of each partner	$	$