Desmond Drury and Ty Wilkins have decided to form a partnership. They have agreed that Drury is to invest $71,100 and that Wilkins is to invest $165,900. Drury is to devote full time to the business, and Wilkins is to devote one-half time. The following plans for the division of income are being considered: Equal division. In the ratio of original investments. In the ratio of time devoted to the business. Interest of 10% on original investments and the remainder in the ratio of 3:2. Interest of 10% on original investments, salary allowances of $161,200 to Drury and $80,600 to Wilkins, and the remainder equally. Plan (e), except that Wilkins is also to be allowed a bonus equal to 20% of the amount by which net income exceeds the total salary allowances. Required: For each plan, determine the division of the net income under each of the following assumptions: (1) net income of $711,000 and (2) net income of $312,900. (1) (2) $711,000 $312,900 Plan Drury Wilkins Drury Wilkins

a. $ $ $ $

b. $ $ $ $

c. $ $ $ $

d. $ $ $ $

e. $ $ $ $

f. $ $ $