Use the following to answer questions 2-3: Partners Abel and Cain have capital balances in a partnership of $40,000 and $60,000, respectively. They agree to share profits and losses as follows: Abel $10,000 As salaries As interest on capital at the beginning of the year Remaining profits or losses 10% Cain $12,000 10% 50% 50% 2. If income for the year was $50,000, what will be the allocation of income to Cain? A) $23,000 B) $27,000 C) $20,000 D) $10,000 3. If income for the year was $30,000, what will be the allocation of income to Abel? A) $13,000 B) $77,000 C) $10,000 D $14,000