Chad Forrester is a limited partner in a sports management firm.During the previous year his return on partnership equity was 16%.The beginning balance in his capital account was $450,000 and his partnership net income for this year was $75,000.What was the balance in Chad's capital account at the end of last year?
A)$525,000
B)$937,500
C)$487,500
D)$468,750
E)$37,500

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The Answer of Chad Forrester is a limited partner in a sports management firm.During the previous year his return on partnership equity was 16%.The beginning balance in his capital account was $450,000 and his partnership net income for this year was $75,000.What was the balance in Chad's capital account at the end of last year?
A)$525,000
B)$937,500
C)$487,500
D)$468,750
E)$37,500

Chad Forrester Is a Limited Partner in a Sports Management