16) Partnership accounting: (3pts) Is the same as accounting for a sole proprietorship. Is the same as accounting for a corporation. is the same as accounting for a sole proprietor ship, except that separate capital and withdrawal accounts are kept for each partner. Is the same as accounting for a corporation, except that retained earnings is used to keep track of partners' withdrawals. 18) Partnership accounting: (3pts) Uses a capital account for each partner. Uses a withdrawal account for each partner. Allocates net income or net loss to each partner according to the partnership agreement. All of the above. 19) Aye, Bee and Cee formed a partnership called ABC Company. Their initial capital (4pts) contributions are: A: $60,000 B: $50,000 C: $40,000 Their partnership agreement called for the income (loss) to be shared based on the ratio of capital investment. If the partnership had income of $100,000 for the first year of operation, what amount of income would be credited to C's Capital account (round to the nearest dollar)? $40,000 $26,667 $33,333 $50,000