Problem #1 Establishing Profit or Loss Sharing Method Zenaida Rivadelo opted for an early retirement from a business process outsourcing company located in The Fort, Taguig City and returned to Dagupan. She was presented with a business opportunity by her niece, Helen Mamitag, who has a B.S. Degree in Computer Science. Rivadelo and Mamitag formed a partnership called The InfoTech Consultants. Rivadelo contributed all the P700,000 initial capital. She only devotes one- half time to the business. Mamitag, the industrial partner, works full time. The monthly drawings were P50,000 for Rivadelo and P75,000 for Mamitag. At the end of the first year of operations, the two partners talked about establishing an agreement to govern the division of the partnerships' profits or losses. Rivadelo proposed that the division be equal. Although she devoted only one-half of Mamitag's work time to the business, she contributed all of the startup funds and is the more experienced in this line of business. Mamitag suggested that the income-sharing ratio should be 2:1 in her favor because she works full time in the business though she appreciates her bigger monthly drawings. Required: Propose an equitable income-sharing scheme considering their contributions