Transcribed Image Text
12-3Dividing Partnership IncomeTyler Hawes and Piper Albright formed a partnership, investing$315,000 and $105,000, respectively.Determine their participation in the year's net income of$378,000 under each of the following independent assumptions:(A) No agreement concerning division of net income.(B) Divided in the ratio of original capital investment.(C) Interest at the rate of 15% allowed on original investmentsand the remainder divided in the ratio of 2:3.(D) Salary allowances of $66,000 and $90,000, respectively, andthe balance divided equally.(E) Allowance of interest at the rate of 15% on originalinvestments, salary allowances of $66,000 and $90,000,respectively, and the remainder divided equally.Hawes Albrighta _____ ______b _____ ______c _____ ______d ______ _______e ______ _______