Helo Sive En Pred and Barney started a partnership During Year 1. Fred invested $20,000 in the business and Barney invested $32,000. The partnership agreement called for each partner to receive an asal diction equal to 15% of his capital contribution. Any further earnings were to be retained in the business and divided equally between the partners. The partnership reported netcome of $38,000 during Year 1. How will the $38.000 of net income be split between Fred and Barney respectively? (Hint Consider both the cash withdrawals and allocation of Toining income Ered Barney Multiple Choice $20.00 $17.500 $20,000 11. 100