Problem 48 points X and Y invest $100,000 and $50,000 respectively in a partnership and agree to a division of net income that provides for an allowance of interest at 5% on original investments, salary allowances of $24,000 and $12,000 respectively, with the remainder divided 60/40. What would be X's \& Y's share of a periodic net income of $40,000 ? Show computations