Cox, North, and Lee form a partnership. Cox contributes $201,000, North contributes $167,500, and Lee contributes $301,500. Their partnership agreement calls for the income or loss division to be...

Extracted text: Cox, North, and Lee form a partnership. Cox contributes $201,000, North contributes $167,500, and Lee contributes $301,500. Their partnership agreement calls for the income or loss division to be based on the ratio of capital invested. If the partnership reports income of $166,000 for its first year, what amount of income is credited to Cox's capital account? (Do not round your intermediate calculations.) Multiple Choice $74,700. $41,500. $57,300. $55,333. $49,800.