Elaine Valero Is a Limited Partner in a Marketing and Design

Multiple Choice

Elaine Valero is a limited partner in a marketing and design firm.During the previous year her return on partnership equity was 14%.During this time,the beginning and ending balances in her capital account were $210,000 and $230,000 respectively.What was Elaine's partnership net income for this year?

A) $29,400.00
B) $30,800.00
C) $32,200.00
D) $1,500,000.00
E) $1,642,857.14