OBJ. 2 PR 12-2A Dividing partnership income Morrison and Amato have decided to form a partnership. They have agreed that Morrison is to invest $150,000 and that Amato is to invest $50,000. Morrison is to devote one-half time to the business and Amato is to devote full time. The following plans for the divi- sion 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 12% on original investments and the remainder equally. e. Interest of 12% on original investments, salary allowances of $30,000 to Morrison and $64,000 to Amato, and the remainder equally. f. Plan (e), except that Amato is also to be allowed a bonus equal to 20% of the amount by which net income exceeds the total salary allowances. Instructions For each plan, determine the division of the net income under each of the following assumptions: (1) net income of $ 105,000 and (2) net income of $180,000. Present the data in tabular form, using the following columnar headings: $ 105,000 $180,000 Plan Morrison Amato Morrison Amato