Dividing Partnership Income Tyler Hawes and Piper Albright formed a partnership, Investing $202,500 and $67,500, respectively. Determine their participation in the year's net income of $290,000 under each of the following independent assumptions: a. No agreement concerning division of net income. Divided in the ratio of original capital investment. c. Interest at the rate of 5% allowed on original investments and the remainder divided in the ratio of 2:3. d. Salary allowances of $38,000 and $48,000, respectively, and the balance divided equally. e. Allowance of interest at the rate of 5% on original investments, salary allowances of $38,000 and $48,000, respectively, and the remainder divided equally Hawes $145,000 Albright 145,000 (a) (6) $ 217,500 72,500 (c) 153,900 x 600 (d) 130,000 $ 140,000 143,375 126,625 My W Set up a column for each partner and a total column. a. Determine the distribution of income and losses in the absence of a partnership agreement. b. Use the ratio of the partner's original capital investment to distribute the net income. Check My Work 2 more Check My Worse remaining All we saved Save and Subm Assignment for Geading