Adams, Everett, and Chapman each have a $50,000 Capital balance. They share profits and losses as follows:

Question:

Adams, Everett, and Chapman each have a $50,000 Capital balance. They share profits and losses as follows: 25 percent to Adams, 50 percent to Everett, and 25 percent to Chapman. Suppose Chapman is withdrawing from the business, and the partners agree that no appraisal of assets is needed. How much in assets can Chapman take from the partnership? Give the reason for your answer. What role does the profit-and-loss ratio play in this situation?