Problem #5 Rules for the Distribution of Profits or Losses Caminade, Sagario and Garrido formed a commercial partnership on May 13, 2006. Caminade invested P150,000; Sagario, P180,000 and Garrido, P270,000. Caminade will be the managing partner. Sagario will work in the store half of his time while Garrido will be a silent partner. a. Loss is P429,000 and the partners have no written partnership agreement. b. Loss is P600,000. The articles of partnership states that partners Caminade, Sagario and Garrido agreed that profits would be shared in the ratio of 40:25:35, respectively. The agreement did not mention the manner of sharing of losses. Profit is P920,000. The first P400,000 is shared on the basis of salary allowances, with Caminade receiving P280,000 and Sagario receiving P120,000. The remainder is allocated on the basis of their capital contributions. d. Profit is P1,800,000. The first P750,000 is shared on the basis of their capital contributions; and the next P360,000 is based on service, with Caminade receiving P280,000 and Sagario receiving P80,000. Any remainder is shared equally. Required: Determine the partners' share in the profit or loss for each of the situations above.