Beau Dawson and Willow McDonald formed a partnership, investing $65,000 and $195,000, respectively.

Determine their participation in the year's net income of $275,000 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 5% allowed on original investments and the remainder divided in the ratio of 2:3.

d.Salary allowances of $38,000 and $49,000, respectively, and the balance divided equally.

e.Allowance of interest at the rate of 5% on original investments, salary allowances of $38,000 and $49,000, respectively, and the remainder divided equally.

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