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11. Jack and Jill are partners in a business. Jack's original capital was $40,000 and Jill's was $60,000. They agree to share profits and losses

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11. Jack and Jill are partners in a business. Jack's original capital was $40,000 and Jill's was $60,000. They agree to share profits and losses as follows: Jack Jill As salaries $12,000 $18,000 As interest on original capital 10% 10% Remaining profits or losses 3/5 2/5 If income for the year was $50,000, what will be the distribution of income to Jack? a $16,000 c. $23,400 b. $22,000 d. $24,000

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