Remaining income $($loss$)$:James, Keller, and Rivers have the following capital balances; $$48,000,$ $$70,000$ and $$90,000$ respectively. Because of a cash shortage James invests an additional $$12,000$ on June $1$st$.$ Each partner withdraws $$1,000$ per month. James, Keller, and Rivers receive a salary of $$13,000,$ $$15,000$ and $$20,000,$ respectively, for work done during the year. Each partner receives interest of $8\%$ on their weighted average capital balance without regard to normal drawings. Any remaining profits are split $20\%,30\%,$ and $50\%$ respectively. The net income for the year is $$30,000.$

AWNSER:

What are the ending capital balances for each partner?

CALCULATION OF JAMES INTEREST ALLOCATION