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 $270,000 under each of the following independent assumptions: a. No agreement concerning division of net income. b. 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 $34,000 and $48,000, respectively, and the balance divided equally. e. Allowance of interest at the rate of 6% on original investments, salary allowances of $34,000 and $48,000, respectively, and the remainder divided equally. Hawes Albright (a) (b) (c) (d) (e) $ S