Lester and Stephen formed a partnership with capital contributions of P300,000 and P700,000, respectively. During its first year of operations, the partnership earned a profit of P200,000.

Prepare a schedule showing the division of profit between the partners under each of the following independent assumptions:

1. Profit is divided equally.
2. There is no profit or loss sharing agreement.
3. A monthly salary of P8,000 will be given to Lester and the balance divided in the ratio of their capital balances.
4. A monthly salary of P8,000 will be given to Lester, 6% interest will be allowed on the capital balances of each partner; and the balance divided equally.