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8. A partnership has the following accounting amounts (1) Sales $70,000 (2) Cost of Goods Sold- $40,000 (3) Operating Expenses- $10,000 (4) Salary allocations to

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8. A partnership has the following accounting amounts (1) Sales $70,000 (2) Cost of Goods Sold- $40,000 (3) Operating Expenses- $10,000 (4) Salary allocations to partners -$13,000 (5) Interest paid to banks $2,000 (6) Partners' withdrawals $8,000 Partnership net income (loss) is a. $20,000 b. $18,000 c. $5,000 d. $(3,000) (Deduct 5 poi

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