* O MTH 136-001 Spri... h Hulu Home Netflix Apply for Financial... Cengage VitalSource Books... Spider-Man: No W... Be ATC-FAA Hin eBook Show Me How Dividing Partnership Income Dylan Howell and Demond Nickles have decided to form a partnership. They have agreed that Howell is to invest $50,000 and that Nickles is to invest $75,000. Howell is to devote full time to the business, and Nickles is to devote one-half 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 10% on original investments and the remainder in the ratio of 3:2 e. Interest of 10% on original investments, salary allowances of $38,000 to Howell and $19,000 to Nickles, and the remainder equally 1. Plan (e), except that Howell 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 $420,000 and (2) net incumejat $150,000 (1) $420,000 (2) $150,000 Plan Howell Nickles Howell Nickles Next