Singer and McMann are partners in a business. Singer's original capital was $40,000 and McMann's was $60,000.

Question:

Singer and McMann are partners in a business. Singer's original capital was $40,000 and McMann's was $60,000. They agree to salaries of $12,000 and $18,000 for Singer and McMann respectively and 10% interest on original capital. If they agree to share remaining profits and losses on a 3:2 ratio, what will Singer's share of the income be if the income for the year was $50,000?
a. $23,400
b. $22,000
c. $24,000