OBJ. 2 .500 EX 12-4 Dividing partnership income Using each of the five assumptions as to income division listed in Exercise 12-3, deter- mine the income participation of Hawes and Albright if the year's net income is $104,000. OBJ. 2 .500 EX 12-4 Dividing partnership income Using each of the five assumptions as to income division listed in Exercise 12-3, deter- mine the income participation of Hawes and Albright if the year's net income is $104,000