A partnership begins its first year with the following capital balances: Alexander, Capital $ 76,000 Bertrand, Capital 86,000 Coloma, Capital 96,000

The articles of partnership stipulate that profits and losses be assigned in the following manner: Each partner is allocated interest equal to 8 percent of the beginning capital balance. Bertrand is allocated compensation of $20,000 per year. Any remaining profits and losses are allocated on a 3:3:4 basis, respectively. Each partner is allowed to withdraw up to $5,000 cash per year. Assuming that the net income is $86,000 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

A.$116,824

B. $103,680

C. $121,824

D.$103,216