5. Max and Kenneth are partners in an eatery business with balances of P250,000 and P150,000 respectively. Partnership agreement calls for: 12% interest on capital, P6,000 monthly salary for Max as managing partner, remaining profit to be divided equally by the two partners. You are given the following independent situations: a) Result of a one year operation is a net profit of P170,000 after tax. b) Result of a one year operation was a net loss of P240,000. c) Result of a one year operation was a net profit of P120,000 before tax of 30%. d) Result of a six-month operation was a net profit of P110,250 before tax of 30% e) Result of a three-month operation was a net loss of P75,000. Direction Record the distribution based on the aforementioned situations supported by profit/loss allocation table. 5. Max and Kenneth are partners in an eatery business with balances of P250,000 and P150,000 respectively. Partnership agreement calls for: 12% interest on capital, P6,000 monthly salary for Max as managing partner, remaining profit to be divided equally by the two partners. You are given the following independent situations: a) Result of a one year operation is a net profit of P170,000 after tax. b) Result of a one year operation was a net loss of P240,000. c) Result of a one year operation was a net profit of P120,000 before tax of 30%. d) Result of a six-month operation was a net profit of P110,250 before tax of 30%. e) Result of a three-month operation was a net loss of P75,000. Direction Record the distribution based on the aforementioned situations supported by profit/loss allocation table