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[ 3 0 Points ] Ken Still and Duncan Leif formed a partnership, investing $ 3 0 0 , 0 0 0 and $ 1

[30 Points] Ken Still and Duncan Leif formed a partnership, investing $300,000 and $150,000 respectively. Determine their participation in the year's net income of $150,000 under each of the following independent assumptions: (a) no agreement concerning division of net income; (b) divided in the ratio of original capital investment; (c) interest at the rate of 12% allowed on original investments and the remainder divided in the ratio of 2:3; (d) salary allowances of $55,000 and $65,000 respectively, and the balance divided equally; (e) allowance of interest at the rate of 12% on original investments, salary allowances of $55,000 and $65,000 respectively, and the remainder divided equally.
Still
Leif
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