1. Dividing Partnership Income

   Tyler Hawes and Piper Albright formed a partnership, investing $116,000 and $174,000, respectively.

   Determine their participation in the year's net income of $300,000 under each of the following independent assumptions:

   1. No agreement concerning division of net income.
   2. Divided in the ratio of original capital investment.
   3. Interest at the rate of 5% allowed on original investments and the remainder divided in the ratio of 2:3.
   4. Salary allowances of $34,000 and $45,000, respectively, and the balance divided equally.
   5. Allowance of interest at the rate of 5% on original investments, salary allowances of $34,000 and $45,000, respectively, and the remainder divided equally.

   	Hawes	Albright
   (a)	$	$
   (b)	$	$
   (c)	$	$
   (d)	$	$
   (e)	$	$

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