OB).2 EX 12-3 Dividing partnership income Nicole Murphy and Ashley Drake formed a partnership, investing $270,000 and $90,000, respectively. Determine their participation in the year's net income of $350,000 under each of the following independent assumptions: (a) no agreement concerning division of net income; (b) divided in the ratio of original capital investment; (c) interest at the rate of 5% allowed on original investments and the remainder divided in the ratio of 2:3; d) salary allowances of $40,000 and $50,000, respectively, and the balance divided equally: (e) allowance of interest at the rate of 5% on original investments, salary allowances of $40,000 and $50,000, respectively, and the remainder divided equally. olano ST RIOS