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

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Accounting

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 is $15,000?

a. $9,000

b. $2,400

c. $1,000

d. $5,600

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