1. Candace Hassell and Abby Lawson formed a partnership, investing $240,000 and $80,000, respectively. Determine their participation in the year's net income of $200,000 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 investments and the remainder divided in the ratio of 2:3; 

(d) Salary allowances of $50,000 and $70,000, respectively, and the balance divided equally; 

(e) Allowance of interest at the rate of 15% on original investments, salary allowances of $50,000 and $70,000, respectively, and the remainder divided equally.