A partnership begins its first year with the following capital balances: Alfred, Capital Bernard, Capital Collins, Capital $ 54,000 64,000 74,000 ed The articles of partnership stipulate that profits and losses be assigned in the following manner: Each partner is allocated interest equal to 7 percent of the beginning capital balance. Bernard is allocated compensation of $10,000 per year. Any remaining profits and losses are allocated on a 3:3:4 basis, respectively. Each partner is allowed to withdraw up to $3,000 cash per year. ces Assuming that the net income is $64,000 and that each partner withdraws the maximum amount allowed, what is the balance in Collins capital account at the end of that year? Multiple Choice $92,404 O $79,180 O $95,404 O $80,236