Problem 14-10 (LO 14-6) A partnership begins its first year with the following capital balances: Alfred, Capital Bernard, Capital Collins, Capital $50,000 60,000 70,000 The articles of partnership stipulate that profits and losses be assigned in the following manner Each partner is allocated interest equal to 5 percent of the beginning capital balance. Bernard is allocated compensation of $18,000 per year. Any remaining profits and losses are allocated on a 3.3.4 basis, respectively. Each partner is allowed to withdraw up to $5,000 cash per year. Assuming that the net income is $60,000 and that each partner withdraws the maximum amount allowed, what is the balance in Coll capital account at the end of that year