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Morrison and Greene have decided to form a partnership. They have agreed that Morrison is to invest $ 3 0 0 , 0 0 0

Morrison and Greene have decided to form a partnership. They have agreed that Morrison is to invest $300,000 and that Greene is to invest
$100,000. Morrison is to devote one-half time to the business, and Greene is to devote full time. The following plans for the division of income
are being considered:
a. Equal division.
b. In the ratio of original investments.
c. In the ratio of time devoted to the business.
d. Interest of 5% on original investments and the remainder equally
e. Interest of 5% on original investments, salary allowances of $60,000 to Morrison and $70,000 to Greene, and the remainder equally
f. Plan (e), except that Greene is also to be allowed a bonus equal to 20% of the amount by which net income exceeds the total salary
allowances
Required:
For each plan, determine the division of the net income under each of the following assumptions: (1) net income of $148,000 and (2) net income
of $260,000. Round answers to the nearest whole dollar.
(1)
(2)
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