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In: AccountingDividing Partnership IncomeMorrison and Greene have decided to form a partnership. Theyhave agreed that...Dividing Partnership IncomeMorrison and Greene have decided to form a partnership. Theyhave agreed that Morrison is to invest $150,000 and that Greene isto invest $50,000. Morrison is to devote one-half time to thebusiness, and Greene is to devote full time. The following plansfor the division of income are being considered:Equal division.In the ratio of original investments.In the ratio of time devoted to the business.Interest of 6% on original investments and the remainderequallyInterest of 6% on original investments, salary allowances of$50,000 to Morrison and $70,000 to Greene, and the remainderequallyPlan (e), except that Greene is also to be allowed a bonusequal to 20% of the amount by which net income exceeds the totalsalary allowancesRequired:For each plan, determine the division of the net income undereach of the following assumptions: (1) net income of $118,000 and(2) net income of $255,000. Round answers to the nearest wholedollar.(1)(2)$118,000$255,000PlanMorrisonGreeneMorrisonGreenea.$$$$b.$$$$c.$$$$d.$$$$e.$$$$f.$$$$