Dividing Partnership Income Morrison and Greene have decided to form a partnership. They have agreed that Morrison is to invest $168,000 and that Greene is to invest $56,000. 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 6% on original investments and the remainder equally e. Interest of 6% on original investments, salary allowances of $40,000 to Morrison and $75,000 to Greene, and the remainder equally f. Plan (e), except that Greene 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 $160,000 and (2) net income of $230,000. Round answers to the nearest whole dollar. (1) $160,000 Plan Morrison Greene a. b. $ C. d. e. f. $ (2) $230,000 Morrison Greene 5 $ S $ $ S $ S $ 5