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	$