The APB partnership agreement specifies that partnership net income be allocated as follows: partner A Partner p Partner B salary allownace 30000 10000 40000 interest on avaerage on capital balance 10% 10% 10% Remainder 40% 40% 20%

Average capital balances for the current year were $50,000 for A, $30,000 for P, and $20,000 for B. Refer to the information given. Assuming a current year net income of $150,000, what amount should be allocated to each partner? Partner A Partner P Partner B A) 60000 60000 30000 B) 59000 37000 54000 C) 24000 24000 12000 D) 58000 38000 54000

Select one:

a. Partner A Partner P Partner B

58000 38000 54000

b. Partner A Partner P Partner B

59000 37000 54000

c. Partner A Partner P Partner B

24000 24000 12000

d. Partner A Partner P Partner B

60000 60000 30000