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Wheadon, Davis, and Singer formed a partnership with Wheadon contributing $69,600, Davis contributing $58,000 and Singer contributing $46,400. Their partnership agreement called for the income
Wheadon, Davis, and Singer formed a partnership with Wheadon contributing $69,600, Davis contributing $58,000 and Singer contributing $46,400. Their partnership agreement called for the income (loss) division to be based on the ratio of capital investments. If the partnership had income of $99,000 for its first year of operation, what amount of income (rounded to the nearest thousand) would be credited to Singer's capital account?
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