[The following information applies to the questions displayed below.] Kramer and Knox began a partnership by investing $62,000 and $57,000, 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: 5. Required information (1) The partners failed to agree on a method to share income. 6. Required information (2) The partners agreed to share income and loss in proportion to their initial investments. (Do not round intermediate calculations.) 7. Required information (3) The partners agreed to share income by granting a $56,500 per year salary allowance to Kramer, a $46,500 per year salary allowance to Knox, 12% interest on their initial capital investments, and the remaining balance shared equally. (Enter all allowances as positive values. Enter losses as negative values.)