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please answer! Oividing Partnership income Black and Sharnon have dedided to form a partnership. Ther have agreed that Black is to invest $360,000 and that
please answer! Oividing Partnership income Black and Sharnon have dedided to form a partnership. Ther have agreed that Black is to invest $360,000 and that Shannon is to invest $120,000, Blsck is to devote one - talt time to the business, and Shannon is to devote full time. The following olans for the divicion of income are beino cansidered: a. Equal division b. In the ratio of criginal investments c. In the ratio of time devoted to the business d. Interest of 6% on orioinal investments and the remainder equaliy e. Interest of 6% on original investments, salary allowances of $95,000 to Black and $165,000 to shannon, and the remainder equally f. Plan (e), except that Sharinon is also to be allowed a bunus equal to 20% of the amount by which net incorne 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 5276,000 and (2) net income of 3430,000 , Round answers to the neorest whole dollar. ronicky Wor Set up a column for each parther for each net income assumption. a. Alocate income to the partners based on the income sharing agreerpent. I ariy. b. Allocate income to the partners based on the partners onginad investments. c. Allocate income to the partners based on the rotio of tiane devoted to the business
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