Jensen and Stafford began a partnership to start a hardwood flooring installation business, by investing $163,000 and $203,000, respectively. They agreed to share profits/(losses) by providing yearly salary allowances of $153,000 to Jensen and $78,000 to Stafford, 25% interest allowances on their investments, and sharing the balance 3:2. Required: 1. Determine each partner's share if the first-year profit was $423,000. Share to Jensen Share to Stafford Total $ os 0 0 Total salaries and Interest allocation Balance of profit $ 0 0 Remainder 3.2 ratio: Balance of profit Shares of each partner $ 0 $ 0 $ 0 2. Independent of (1), determine each partner's share if the first-year loss was $98,000. (Negative answers should be indicated by a minus sign.) Share to Jensen Share to Stafford Total $ 0 $ 0 0 Total salaries and interest location Balance of loss $ 0 0 Romander 32 ratio Balance of loss Shares of each partner $ 05 0$ 0