Lin and Coral Invested $99,000 and $126,000, Respectively, in a Partnership

Lin and Coral invested $99,000 and $126,000, respectively, in a partnership they began one year ago. Assuming the partnership earned $120,000 during the current year; compute the share of the net income each partner should receive under each of these independent assumptions.
1. The partnership contract specifies salary allowances of $45,000 to Lin and $60,000 to Coral, and any balance shared equally.
$$\begin{array} { | l | l | l | l | } \hline & \text { Lin } & \text { Coral } & \text { Allocated } \\\hline \text { Net Income } & & & \\\hline \text { Salary allowance } & & & \\\hline \text { Remainder } & & & \\\hline \text { Allocation of remainder } & & & \\\hline \text { Total } & & & \\\hline\end{array}$$ 2. The partnership contract specifies salary allowances of $45,000 to Lin and $60,000 to Coral, interest allowance of 10% on the partners' beginning capital balance for the year.
$$\begin{array} { | l | l | l | l | } \hline & \text { Lin } & \text { Coral } & \text { Allocated } \\\hline \text { Net Income } & & & \\\hline \text { Salary allowance } & & & \\\hline \text { Interest allowance } & & & \\\hline \text { Remainder } & & & \\\hline \text { Allocation of remainder } & & & \\\hline \text { Total } & & & \\\hline\end{array}$$