The partnership agreement of X, Y and Z provides for the division of net income as follows: a. Z, who manages the partnership is to receive a salary of P15,000 monthly b. Each partner is to be allowed interest at 15% on average capital c. Remaining profits/loss are to be divided EQUALLY. During 2009, X invested an additional P170,000 in the partnership. Y and Z made an additional investment of P80,000 and P90,000, respectively. X withdrew P60,000; Y withdrew P150,000 and W withdrew P90,000 . No other investments or withdrawals were made during 2009. On January 1, 2009, the capital balances were X 450,000, Y, P520,000 and Z, P300,000. Total capital at year-end was P1,520,000. 1. Net income of the partnership is a. 250,000 b. (90,000) c. 300,000 d. 210,000 2. W's interest on average capital used in determining share in P&L a. 29100 b. 18000 c. 23,400 d. Other amount