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Tyler Hawes and Piper Albright formed a partnership, investing $217,500 and $72,500, respectively. Determine their participation in the year's net income of $270,000 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 6% allowed on original investments and the remainder divided in the ratio of 2:3 d. Salary allowances of $34,000 and $48,000, respectively, and the balance divided equally. e. Allowance of interest at the rate of 6% on original investments, salary allowances of $34,000 and $48,000, respectively, and the remainder divided equally. Hawes Albright (a) $135,000 $135,000 (b) $ 202,500 $ 67,500 $ 114,960 x $176,000 X $184,790 X 172,440 $ 176,000 (d) $184,790 Feedback Check My Work Set up a column for each partner and a total column. a. Determine the distribution of income and losses in the absence of a partnership agreement. Check My Work 1 more Check My Work uses remaining. Previous Next