Jackson and Campbell have capital balances of $100,000 and $300,000 respectively. Jackson devotes full time and Campbell one-half time to the business. Determine the division of $120,000 of net income under each of the following assumptions: a. No agreement as to division of net income.

Jackson $

Campbell $

b. In ratio of capital balances.

Jackson $

Campbell $

c. In ratio of time devoted to business.

Jackson $

Campbell $

d. Interest of 10% on capital balances and the remainder divided equally.

Jackson $

Campbell $

e. Interest of 10% on capital balances, salaries of $40,000 to Jackson and $20,000 to Campbell, and the remainder divided equally.

Jackson $

Campbell $