Dividing Partnership Income

Carmelo Fernandez and Bobby Morett formed a partnership, investing $$70,000$ and $$210,000,$ respectively.

Determine their participation in the year's net income of $$91,000$ under each of the following independent assumptions:

No agreement concerning division of net income.

Divided in the ratio of original capital investment.

Interest at the rate of $6\%$ allowed on original investments and the remainder divided in the ratio of $2$:$3.$

Salary allowances of $$34,000$ and $$45,000,$ respectively, and the balance divided equally.

Allowance of interest at the rate of $6\%$ on original investments, salary allowances of $$34,000$ and $$45,000,$ respectively, and the remainder divided equally.