8 A, B and C formed a partnership on January 1, 2007 with investments of $200,000,$300,000 and $400,000 respectively. The profit and loss sharing ratio is 20% for A, 30% for B and 50% for C. For division of income, they have agreed: 1. interest of 10% of beginning capital balance each year 2. annual compensation of $10,000 for B. The partnership earns $500,000 in its first year of operation. Each partner draws $1000 a month. A) What is B's share of the net income B) What is C's capital balance at the end of the first year