1. 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:

2. No agreement concerning division of net income.
3. Divided in the ratio of original capital investment.
4. Interest at the rate of 6% allowed on original investments and the remainder divided in the ratio of 2:2.
5. Salary allowances of $40,000 and $46,000, respectively, and the balance divided equally.
6. 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.

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