Kate DeLeo and Joe Desmond decided to form a partnership on January 1. DeLeo invested $50,000 and Desmond invested $30,000. On December 31, the end of the fiscal year, a net income of $100,000 was earned. Determine the amount of net income that DeLeo and Desmond would receive under each of the following independent assumptions:

Net income			$fill in the blank 1
Income to be allocated	DeLeo	Desmond	Total
a. There is no agreement concerning the distribution of net income.	$fill in the blank 2	$fill in the blank 3	$fill in the blank 4
b. Each partner is to receive 10% on their original investment, and the remainder divided equally.	$fill in the blank 5	$fill in the blank 6	$fill in the blank 7
c. DeLeo and Desmond are to receive a salary allowance of $35,000 and $45,000 respectively, and the remainder divided equally.	$fill in the blank 8	$fill in the blank 9	$fill in the blank 10
d. Each partner is to receive 10% on their original investment, DeLeo and Desmond are to receive a salary allowance of $30,000 and $40,000 respectively, and the remainder divided as follows: 60% to DeLeo and 40% to Desmond.	$fill in the blank 11	$fill in the blank 12