A partnership begins its first year with the following capital balances:

Alexander, Capital	$	30,000
Bertrand, Capital		40,000
Coloma, Capital		50,000

The articles of partnership stipulate that profits and losses be assigned in the following manner:

• Each partner is allocated interest equal to 5 percent of the beginning capital balance.
• Bertrand 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.

Assuming that the net income is $40,000 and that each partner withdraws the maximum amount allowed, what is the balance in Coloma's capital account at the end of the year?

Multiple Choice

• $59,100

• $62,100

• $51,900

• $52,500