Phillip and Case are in the process of forming a partnership to import Belgian chocolates, to which Phillip will contribute one $-$ third time and Case full time.

They have discussed the following alternative plans for sharing profit and losses.

a$.$ In the ratio of their initial investments, which they have agreed will be $$160,000$ for Phillip and $$240,000$ for Case.

b$.$ In proportion to the time devoted to the business.

c$.$ A salary allowance of $$5000$ per month to Case and the balance in accordance with their initial investment ratio.

d$.$ A $$5000$ per month salary allowance to Case, $15\%$ interest on their initial investments, and the balance equally.

The partners expect the business to generate profit as follows: Year $1,$$$70,000$ profit; Year $2,$ $$70,000$ loss; and Year $3,$$$400,000$ profit. Required

Prepare four schedules with the following column headings:

Complete a schedule for each of the four plans being considered by showing how the partnership profit

or loss for each year would be allocated to the partners. Round your answers to the nearest whole dollar.