Beau Dawson and Willow McDonald formed a partnership, investing $104,000 and $156,000, respectively.

Determine their participation in the year's net income of $270,000 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 6% allowed on original investments and the remainder divided in the ratio of 2:3. d. Salary allowances of $38,000 and $46,000, respectively, and the balance divided equally. e. Allowance of interest at the rate of 6% on original investments, salary allowances of $38,000 and $46,000, respectively, and the remainder divided equally.

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