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.

7 Questions total for one same problem.

What was Goodman's total share of net income for 2021? Multiple Choice $45,630 $31,080. $62,550. $48,000. $60,630. What was the total capital balance for the partnership at December 31, 2020? Multiple Choice $804,000. $696,000. $750,000 $604,000. $496,000. What was White's total share of net income for 2020? Multiple Choice $95.000. $84,500 $77,000. $25,000. $52,000. What was Goodman's capital account balance at the end of 2021? Multiple Choice O $191,130. O $142.050. O $173,130. $190,050. O $193,500. O What was Goodman's total share of net income for 2020? Multiple Choice $41,500. $35,000 $26,000. $38,500. $47,500. What will be the amount of interest attributed to Goodman in the income distribution for 2022? Multiple Choice $19,113 O $17,313 U O $19.005. O $14,205 o $24,000. What was the remainder portion of net income allocated to White for 2021? Multiple Choice $62,160. $96,000. $68,160. $90,000 $74,160