Dividing Partnership Income Morrison and Greene have decided to form a partnership. They have agreed that Morrison is to invest $267,000 and that Greene is to invest $89,000. 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 $80,000 to Greene, and the remainder equally f. Plan (e), except that Greene is also to be allowed 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 $178,000 and (2) net income of $220,000. Round answers to the nearest whole dollar (1) (2) $178,000 $220,000 Plan Morrison Greene Morrison Greene a $ $ b. $ $ $ c. $ $ $ d. $ $ $ e. $ $ $ f. $ $ $