How to color an inked image in Photoshop 7.0-Sorry for the large images..
1.After you have inked your image, go to File>Import>”What ever your scanner is”
2.After the image has been scanned, hit Ctrl+L to adjust the levels. Pull the middle arrow to the right until your lines are dark enough.
3.Go to Select>Color Range and select the white part of your image.
4.Hit Ctrl+Shift+N to create a new layer.
5.Hit Ctrl+Shift+I to inverse the selection.
6.Make #000000 your foreground color, and hit B to select the brush tool. Make sure you have a strong brush selected and go over the entire image.
7.Now turn off the background layer and hit Ctrl+D to deselect the selection. This is what I have.

8.Next make a new layer and name it “base1”. Drag it under layer 1.
9.Next color all of an area with a base color using a hard brush. This is what mine looks like.

10. Now create another layer and name it “base2,” do the same thing, only with a different base color.
11. Now that the base colors are down, create a new layer above “base1” and call it “shadows”. Take a soft brush with the opacity turned down to about 50%. Color in the shadows. I Ctrl+Click “Base1” to make it easier.

12. Next I do a Gaussen Blur, I used a distance of 2.8 in this pic.
13. Next I hit Ctrl+E to merge “shadows” and “Base1” together.
14. Create another layer above “Base2” and call it “shadows.” Repeat steps 11 and 12.
15. Now create another layer above shadows and name it “Highlights.” Repeat steps 11 and 12 only color the highlights.

16. Now merge “Highlights” “Shadows” and “Base2.”
17. See, that was easy. Now I’ve done some extra stuff to mine to finish it. Here is the finished product…

I hope you like my tutorial, it was my first one...