There are a number of different ways that a spreadsheet could be created to solve this particular problem. Here is one possible approach:
In Cell A1, enter label text “Net Income” and in Cell B1 enter $200,000.
In Cell A2, enter label text “Billable Hours – Red” and in Cell B2 enter 2,000. In
Cell C2; enter the hourly rate of $20.
In Cell A3, enter label text “Billable Hours – Blue” and in Cell B3 enter 1,500. In
Cell C3; enter the hourly rate of $30.
In Cell A4, enter label text “Investment – Red” and in Cell B4 enter $80,000. In Cell
C4, enter the rate of return of 10%.
In Cell A5, enter label text “Investment – Blue” and in Cell B5 enter $50,000. In
Cell C5; enter the rate of return of 10%.
Perform calculations:
In Cell D2, enter formula to multiply number of hours by hourly rate. Formula:
=+B2*C2
The formula for the next three line items is identical to this first formula; copy the formula to Cells D3, D4, and D5. (To copy a formula across a range of cells, select the cell containing formula, then drag the fill handle, which is the small square in the lower right corner of this box, over the adjacent cells. Note that the formula will adjust automatically for the different lines.)
In Cell A6, enter label text “Subtotal” and SUM the amounts in Cells D2 through
D5. Click in Cell D6, press the symbol on the standard toolbar. Click and drag across the range of cells to be summed (D2 through D5) and press enter.
Subtract the subtotal of the partner’s initial allocations (Cell D6) from the Net
Income (Cell B1) with the following formula: In Cell A8, enter the label text “Profit to be Split” and in Cell D8, enter the following formula: =+B1-D6.

Determine the distribution of Profit between partners:
In Cell A10, enter label text “Profit – Red” and in Cell C10 enter “50%”.
In Cell A11, enter label text “Profit – Blue” and in Cell C11 enter