What's the total income allocated to James for the year?

Question 6 options:

	$10,360
	$10,040
	$8,500
	$9,600 show work

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 1st 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. Spectre ach