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Goodman, Pinkman, and White formed a partnership on January 1 , 2 0 2 0 , and made capital contributions of $ 1 2 5

Goodman, Pinkman, and White formed a partnership on January 1,2020, and made capital contributions of $125,000(Goodman), $175,000(Pinkman), and $250,000(White), respectively. With respect to the division of income, they agreed to the following: (1) interest of an amount equal to 10% of the that partners beginning capital balance for the year; (2) annual compensation of $15,000 to Pinkman; and (3) the remainder of the income or loss to be split among the partners in the following percentages: (a)20% for Goodman; (b)40% for Pinkman; and (c)40% for White. Net income was $200,000 in 2020 and $240,000 in 2021. Each partner withdrew $1,500 for personal use every month during 2020 and 2021.
What was total capital balance for the partnerhsip at december 31,2021?
$936,000.
$805,000.
$924,000.
$882,000.
860,000.

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