Dividing Partnership Income Morrison and Greene have decided to form a partnership. They have agreed that Morrison is to invest $150,000 and that Greene is to invest 550,000. 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 In the ratio of time devoted to the business d. Interest of 6% on original investments and the remainder equally . Interest of 6% on original investments, salary allowances of $40,000 to Morrison and $70,000 to Greene, and the remainder equally 1. Plan (e), except that Greene is also to be allowed a bonus equal to 20% of the amount by which net income exceds the total salary allowances Required: For each plan, determine the divinion of the net Income under each of the following assumptions: (1) net income of $115,000 and (2) net income of $200,000, Round answers to the nearest whole dollar (1) (2) $115,000 $200,000 Plan Morrison Greene Morrison Greene 2 b $ 5