Blaser,Lukins,and Franko Formed a Partnership with Blaser Contributing $160,000,Lukins Contributing

question 54

Multiple Choice

Blaser,Lukins,and Franko formed a partnership with Blaser contributing $160,000,Lukins contributing $520,000,and Franko contributing $240,000.Their partnership agreement called for the income (loss) division to be based on the ratio of capital investments.If the partnership had income of $275,000 for its first year of operation,what amount of income (rounded to the nearest dollar) would be credited to Franko's capital account?

• A)$50,000
• B)$240,000
• C)$91,667
• D)$71,739
• E)$275,000

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