Dividing Partnership Income Morrison and Greene have decided to form a partnership. They have agreed that Morrison is to invest $240,000 and that Greene is to invest $80,000. Morrison is to devote one-half time to the business, and Greene is to devote full time. The following plans for the division of income are being considered: a. Equal division. b. In the ratio of original investments. c. In the ratio of time devoted to the business. d. Interest of 5% on original investments and the remainder equally e. Interest of 5% on original investments, salary allowances of $45,000 to Morrison and $85,000 to Greene, and the remainder equally f. Plan (e), except that Greene is also to be allowed bonus equal to 20% of 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 $142,000 and (2) net income of $225,000. Round answers to the nearest whole dollar. (1) (2) $ 142,000 Morrison Greene $225,000 Morrison Plan Greene a. b. s $ $ c. $ $ $ s $ $ e. si $ $ f. $ $