Dividing Partnership Income Morrison and Greene have decided to form a partnership. They have agreed that Morrison is to invest $183,000 and that Greene is to invest $61,000. Morrison is to devote one-half time to the business, and Greene is to devote full time. The following plans for the division of income are being considered: a. Equal division. b. In the ratio of original investments. C. In the ratio of time devoted to the business. d. Interest of 6% on original investments and the remainder equally e. Interest of 6% on original investments, salary allowances of $40,000 to Morrison and $80,000 to Greene, and the remainder equally f. Plan (e), except that Greene is also to be allowed a bonus equal to 20% of the amount by which net income exceeds the total salary allowances Required: For each plan, determine the division of the net income under each of the following assumptions: (1) net income of $127,000 and (2) net income of $220,000. Round answers to the nearest whole dollar. (2) $127,000 $220,000 Morrison Greene Morrison Greene 63,500 63,500 110,000 110,000 n on convoon na oon nnn 1 Check My Work used Next > 1. POUR ACPC UTOLUCCICIS DISUL DOOWCU DUITUR UFUZU UN amount by which net income exceeds the total salary allowances Required: For each plan, determine the division of the net income under each of the following assumptions: (1) net income of $127,000 and (2) net income of $220,000. Round answers to the nearest whole dollar. (2) (1) $127,000 Morrison Greene Plan $220,000 Morrison Greene 63,500 63,500V 110,000 110,000 95,250 95,250 880,000 880,000 x $ do a 41,910 41,910 * 41,910 147,400x 147,400 67,160 59,840 1 Check My Work used Next