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Ramer and Knox began a partnership by investing $62,000 and $92,000, respectively. The partners agreed to share net income and loss by giving annual salary allowances of $51,000 to Ramer and $40,800 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 $100,800. 2. Determine each partner's share given a first-year net loss of $18,800. 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 $100,800. $ Total 100,800 91,800 Allocation of Partnership Income Ramer Knox Net Income (loss) Salary allowances $ 51,000 $ 40,800 Balance of income (loss) Interest allowances 6,200 9,200 Balance of income (loss) Balance allocated equally Balance of income (loss) Shares of the partners 15,400 Required 1 Required 2 Determine each partner's share given a first-year net loss of $18,800. Total $ (18,800) 0 Allocation of Partnership Income Ramer Knox Net Income (loss) Salary allowances Balance of income (loss) Interest allowances Balance of income (loss) Balance allocated equ Balance of income (loss) Shares of the partners 0 0

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