A partnership begins its first year with the following capital balances: Alexander, Capital Bertrand, Capital Coloma, Capital $72,000 82,000 92,000 The articles of partnership stipulate that profits...

Extracted text: A partnership begins its first year with the following capital balances: Alexander, Capital Bertrand, Capital Coloma, Capital $72,000 82,000 92,000 The articles of partnership stipulate that profits and losses be assigned in the following manner. • Each partner is allocated Interest equal to 6 percent of the beginning capital balance. • Bertrand is allocated compensation of $16,000 per year. Any remalning profits and losses are allocated on a 3:3:4 basis, respectively. • Each partner isallowed to withdraw up to $4,000 cash per year. Assuming that the net income Is $82000 and that each partner withdraws the maximum amount allowed, what is the balance in Coloma's capital account at the end of the year? Multiple Cholce $114,016 $118,016 $98.644 $97,520