The partnership of x and y shares profits and losses in the ratio of 60 percent to x and 40 percent to y. for the year 20x8, partnership net income was double x's withdrawals. assume x's beginning capital balance was $80,000, and ending capital balance (after closing) was $140,000. partnership net income for the year was:
a. $120,000.
b. $300,000.
c. $500,000.
d. $600,000.

After hearing a knock at your front door, you are surprised to see the prize patrol from a large, well-known magazine subscription company. it has arrived with the good news that you are the big winner, having won $21 million. you have three options.(a) receive $1.05 million per year for the next 20 years.(b) have $8.25 million today.(c) have $2.25 million today and receive $750,000 for each of the next 20 years.your financial adviser tells you that it is reasonable to expect to earn 13 percent on investments.