7. Summers and Tyler formed a partnership on December 31, 2021. Summers contributed $25,000 cash and accounts receivable with a fair market value of $11,000. Tyler's investment consisted of: cash, $5,000; inventory, $18,000; and supplies, $1,000-all at fair market values. Net income for 2022 and 2023 was $30,000 and $58,000, respectively i. Calculate the allocation of net income for 2022 and 2023, assuming net incomes 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 12% on their original investments, salary allowances to Summers of $14,000 and Tyler of $11,000, and the remainder to be divided equally.