Ben Conway, Ida Chan, and Clair Scott formed CCS Consulting this year by making capital contributions of $278,000, $314,000, and $208,000, respectively. They anticipate annual profit of $480,000 and are considering the following alternative plans of sharing profits and losses: a. Equally. b. In the ratio of their initial investments, or c. Salary allowances of $131,000 to Conway, $102,000 to Chan, and $77,000 to Scott and interest allowances of 10% on initial investments, with any remaining balance shared equally. h

Ben Conway, Ida Chan, and Clair Scott formed CCS Consulting this year by making capital contributions of $278.000,$314,000, and $208,000, respectively. They anticipate annual profit of $480,000 and are considering the following alternative plans of sharing profits and losses: a. Equally; b. In the ratio of their initial investments; or c. Salary allowances of $131,000 to Conway, $102,000 to Chan, and $77,000 to Scott and interest allowances of 10% on initial investments, with any remaining balance shared equally Ben Conway. Ida Chan, and Clair Scott formed CCS Consulting this year by making capital contributions of $278,000,$314,000, and $208,000, respectively. They antcipate annual profit of $480,000 and are considering the following alternative plans of sharing profits and losses: a. Equally: b. In the tatio of their initial investments; or c. Salary allowances of $131,000 to Conway. \$102,000 to Chan, and $77,000 to Scott and interest allowances of 1026 on inital investments, with any remaining balance shared equally. Required : 1. Use the schedule to show how a profit of $480,000 would be distributed under each of the alternative plans being considered (Enter all amounts as positive volues.)