21. Craig and Smith formed a partnership on December 31, 2020. Craig contributed $60,000 cash. Smith's investment consisted of cash, $8,000; inventory, $24,000; and supplies, $8,000-all at fair market values. Profit for 2021 was $75,000. Calculate the allocation of profit for 2021, assuming profits are divided as follows: (A) The partners have no agreement. (B) Based on a 1:3 ratio. (C) Based on the ratio of the partners' original investments. (D) Interest allowances of 10% on their original investments, salary allowances to Craig of $14,000 and Simpson of $11,000, and the remainder to be divided equally. 20