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What was Clues total share of net income

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Question - Clue, Andy, and Once formed a partnership on January 1, 20X0, with investments of $175,000, $180,000, and $200,000, respectively. For division of income, they agreed to (1) interest of 5% of the beginning capital balance each year, (2) annual compensation of $60,000 to Andy, and (3) sharing the remainder of the income or loss in a ratio of 20% for Clue, and 40% each for Andy and Once. Net income was $150,000 in 20X0. Each partner withdrew $1,000 for personal use every month during 20X0. What was Clue's total share of net income for 20X0?

a. $30,000

b. $42,400

c. $24,450

d. $21,200

e. $12,450

Reference no: EM132525167

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