1. Dividing Partnership Income

   Tyler Hawes and Piper Albright formed a partnership, investing $72,500 and $217,500, respectively.

   Determine their participation in the year's net income of $107,000 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 2:2.
   4. Salary allowances of $40,000 and $49,000, respectively, and the balance divided equally.
   5. Allowance of interest at the rate of 5% on original investments, salary allowances of $40,000 and $49,000, respectively, and the remainder divided equally.

   	Hawes	Albright
   (a)	$fill in the blank 1	$fill in the blank 2
   (b)	$fill in the blank 3	$fill in the blank 4
   (c)	$fill in the blank 5	$fill in the blank 6
   (d)	$fill in the blank 7	$fill in the blank 8
   (e)	$fill in the blank 9	$fill in the blank 10