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Dividing partnership income Carmelo Fernandez and Bobby Morett formed a partnership, investing $ 6 5 , 0 0 0 and $ 1 9 5 ,

Dividing partnership income
Carmelo Fernandez and Bobby Morett formed a partnership, investing $65,000 and $195,000, respectively.
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 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 $36,000 and $48,000, respectively, and the balance divided equally.
e. Allowance of interest at the rate of 5% on original investments, salary allowances of $36,000 and $48,000, respectively, and the remainder divided equally.
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