Alaa, Sami and Ray, the partners in ASR Company, have capital balances on January 1, 2020 of $110,000, $77,000 and $33,000 respectively. The net income for the year is $25,000. The partnership income-sharing agreement indicates: 1. Annual salaries of $7,000 for Alaa, $5,500 for Sami, and $4,500 for Ray. 2. Interest of 7% on beginning capital balances for all partners. 3. Remaining income or loss to be shared based on the partner's beginning capital ratios