Saved Help A partnership begins its first year with the following capital balances Alfred, Capital Bernard, Capital Collins, Capital $ 52,000 62,000 72,000 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 Bernard is allocated compensation of $20,000 per year. . Any remaining profits and losses are allocated on a 3.3.4 basis, respectively Each partner is allowed to withdraw up to $5,000 cash per year Assuming that the net income is $62,000 and that each partner withdraws the maximum amount allowed, what is the balance in Collins capital account at the end of that year? Multiple Choice $74,404 be here to search