Fred and Barney started a partnership. Fred invested $15,000 in the business and Barney invested $23,500. The partnership agreement stipulated that profits would be divided as follows: Each partner would receive a 14% return on invested capital with the remaining income being distributed equally between the two partners. Assuming that the partnership earned $34,000 during an accounting period, the amount of income assigned to the two partners would be:

Fred and Barney started a partnership. Fred invested $15,000 in the business and Barney invested $23,500. The partnership agreement stipulated that profits would be divided as follows: Each partner would receive a 14% return on invested capital with the remaining income being distributed equally between the two partners. Assuming that the partnership earned $34,000 during an accounting period, the amount of income assigned to the two partners would be: A. B. C. D Fred $ 12, 205 $ 15,000 $ 17,000 $ 16,405 Barney $ 11,015 $ 19,000 $ 17,000 $ 17,595 Multiple Choice Choice D O Choice A O Choice C Choice B