Dividing Partnership Income Tyler Hawes and Piper Albright formed a partnership, investing $67,500 and $202,500, respectively. Determine their participation in the year's net income of $270,000 under each of the following independent assumptions:

No agreement concerning division of net income.

Divided in the ratio of original capital investment.

Interest at the rate of 5% allowed on original investments and the remainder divided in the ratio of 2:3.

Salary allowances of $36,000 and $46,000, respectively, and the balance divided equally.

Allowance of interest at the rate of 5% on original investments, salary allowances of $36,000 and $46,000, respectively, and the remainder divided equally.