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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
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: (9) interest of an amount equal to 10% of the that partner's 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 Pinkman's total share of net income for 2020? Multiple Choice $84,500 O $70,000 $87,500 $52,000 TV A 09 2
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