Dividing Partnership Income Morrison and Greene have decided to form a partnership. They have agreed that Morrison is to invest $300,000 and that Greene is to invest $100,000. 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: Equal division. In the ratio of original investments. In the ratio of time devoted to the business. Interest of 5% on original investments and the remainder equally Interest of 5% on original investments, salary allowances of $55,000 to Morrison and $75,000 to Greene, and the remainder equally 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

1. Required:

   For each plan, determine the division of the net income under each of the following assumptions: (1) net income of $118,000 and (2) net income of $230,000. Round answers to the nearest whole dollar.

   	(1)				(2)
   	$118,000				$230,000
   Plan		Morrison		Greene		Morrison		Greene
   a.		$		$		$		$
   b.		$		$		$		$
   c.		$		$		$		$
   d.		$		$		$		$
   e.		$		$		$		$
   f.		$		$		$		$