Farmer and Taylor formed a partnership with capital contributions of $200,000 and $250,000, respectively. Their partnership agreement calls for Farmer to receive a $70,000 per year salary. The remaining income or loss is to be divided equally. If the net income for the current year is $135,000, then Farmer and Taylor's respective shares are:
a. $67,500: $67,500.
b. $130,000; $5,000.
c. $106,140; S28.860
d. $90,000; $45,000.
e. $102,500. S32.500.
