Chapter 12: Accounting for Partnerships and Limited Liability Companies EX 12-3 Dividing partnership income Tyler Hawes and Piper Albright formed a partnership, investing $210,000 and $70,000, re- spectively. Determine their participation in the year's net income of $290,000 under each of the following independent assumptions: (a) no agreement concerning division of ne 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) salar allowances of $36,000 and $45,000, respectively, and the balance divided equally; ( allowance of interest at the rte of 5% on original investments, salary allowances OBJ.2 $36,000 and $45,000, respectively, and the remainder divided equally