Salary allowances of P175,000 for Levy and P155,000 for Gajeel, 10% interest on their capital balance at the beginning of the year, and the remainder to be divided equally. Required: 1. Prepare the profit distribution schedule for the above schemes assuming a: a. profit of P500,000 b. profit of P240,000 2. Which profit distribution scheme is most advisable? Cite reasons.