Philip and Lance have decided to form a partnership by investing $100000 and $80000 respec­tively. The following plans for dividing profits and losses are under consideration: 

(a) Sharing profits equally 

(b) A $20 000 salary to Philip, a $30 000 salary to Lance, and the remainder in the ratio of 6:4 

(c) A $25 000 salary to Lance, 8% interest on their original investments, and the remainder equally 

(d) In the ratio of their original investments.

Required

A. Determine the division of the profit or loss assuming a profit of $120000.

B. Determine the division of the profit or loss assuming a profit of $60000.

C. Determine the division of the profit or loss assuming a loss of $6000.