The ADF Partnership consists of three partners, Ansel, Davis, and Findley. The partnership agreement provides for annual salaries of $30,000 to Ansel, $40,000 to Davis, and $75,000 to Findley. Residual profits are shared in a 2:1:2 ratio. Salaries are to be fully implemented. Partnership income for the year is $180,000. Ansel's share of income is Select one: a. $30.000. b. $44,000. c. $72,000 d. $37,000 A partnership agreement specifies that each partner is to receive 25 percent interest on their weighted average capital balance for the year. Suppose a partner's capital account starts the year with a balance of $100,000, On April 1, $10,000 is withdrawn. On August 1, $50.000 is invested. On November 1,$17,000 is withdrawn. How much partnership income for the year will be allocated to the partner for interest on capital? Select one: a. $30.975 b. $26,475 c. $27,625 d. $28.675 Partnership income is shared in a 1:5:4 ratio. Olivia buys a 20% interest in the partnership by acquiring 20% of each existing partner's interest. paying the three partners a total of $300.000. Partnership identifiable net assets are currently reported at amounts approximating fair value. Using the recognition of implied goodwill approach. Michael's capital balance after the addition of olivia to the partnership is: Select one: a. $280,000 b. $350.000 c. $420.000 d. $480,000