Carl and David have capital balances of $100,000 and $300,000 respectively. Carl devotes full time and David one-half time to the business. Determine the division of $120000 of net income under each of the following assumptions:
(a) No agreement as to division of net income.
(b) In ratio of capital balances.
(c) In ratio of time devoted to business.
(d) Interest of 10% on capital balances and remainder in ratio 3:2
(e) Interest of 10% on capital balances, salaries of $45,000 to Carl and $60,000 to David, and the remainder equally