Partners Charles and Dickens have capital balances in a partnership of $162000 and $240000, respectively. They agree to share profits and losses as follows: As salaries As interest on capital at the beginning of the year Remaining profits or losses Charles Dickens O $49200 O $64700 O $56400 O $40200 $40200 $49000 10% 50% 10% 50% If income for the year was $115000, what will be the allocation of income to Charles?

Partners Charles and Dickens have capital balances in a partnership of $162000 and $240000, respectively. They agree to share profits and losses as follows: If income for the year was $115000, what will be the allocation of income to Charles? $49200 $64700 $56400 $40200