Dividing Partnership income Morrison and Greene have decided to form a partnership. They have agreed that Morrison is to invest $228,000 and that Greene is to invest $76,000. 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 imvestments and the remainder equally e. Interest of 5% on original investments, salary allowances of $60,000 to Morri5on and $80,000 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 pian, determine the division of the net income under each of the following assumptions: (1) net income of $124,000 and ( 2 ) net income of $215,000, Round answers to the nearest whole dollar. 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 $60,000 to Morrison and $80,000 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 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 $124,000 and (2) net income of $215,000. Round answers to the nearest whole dollar