1. Dividing Partnership Income

Tyler Hawes and Piper Albright formed a partnership, investing $60,000 and $180,000, respectively.

Determine their participation in the year's net income of $280,000 under each of the following independent assumptions:

1. No agreement concerning division of net income.
2. Divided in the ratio of original capital investment.
3. Interest at the rate of 6% allowed on original investments and the remainder divided in the ratio of 2:3.
4. Salary allowances of $34,000 and $45,000, respectively, and the balance divided equally.
5. Allowance of interest at the rate of 6% on original investments, salary allowances of $34,000 and $45,000, respectively, and the remainder divided equally.

   Hawes	Albright
   (a)	$	$
   (b)	$	$
   (c)	$	$
   (d)	$	$
   (e)	$	$

   2. Dividing Partnership Income

   Tyler Hawes and Piper Albright formed a partnership, investing $120,000 and $180,000, respectively.

   Determine their participation in the year's net income of $110,000 under each of the following independent assumptions:

6. No agreement concerning division of net income.
7. Divided in the ratio of original capital investment.
8. Interest at the rate of 6% allowed on original investments and the remainder divided in the ratio of 2:2.
9. Salary allowances of $40,000 and $46,000, respectively, and the balance divided equally.
10. Allowance of interest at the rate of 6% on original investments, salary allowances of $40,000 and $46,000, respectively, and the remainder divided equally.

11. 	Hawes	Albright
    (a)	$	$
    (b)	$	$
    (c)	$	$
    (d)	$	$
    (e)	$	$