Moon River Karaoke Club was organized as a partnership with Wang investing 40 000 yuan and Chen investing 60 000 yuan. During the first year of operation, net income amounted to 30 000 yuan. Determine how the 30 000 yuan net income would be divided under each of the following three independent assumptions as to the agreement on sharing profits and losses. Use schedules of the type illustrated in this chapter to show all steps in the division of net income between the partners. a. Net income is to be divided in a fixed ratio: 40% to Wang and 60% to Chen. b. Interest allowances at 15% to be allowed on beginning capital investments and balance to be divided equally. c. Salary allowances of 13 000 yuan to Wang and 16 000 yuan to Chen, interest at 12% to be allowed on beginning capital investments, balance to be divided equally