On December 31, 2011, the total partnership capital (assets less liabilities) for the Bird, Cage, and Dean partnership is $186,000. Selected information related to the preclosing capital balances as follows:

REQUIRED: Prepare a statement of partnership capital for the Bird, Cage, and Dean partnership at year end 2011, assuming that no specific profit or loss sharing agreement exists.

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Bird Capital Cage Capital Dean Capital Total Capital Balance January 1 Investments 2011 Withdrawals 2011 Drawings 2011 $ 60,000 $70,000 $ 45,000 $175,000 (15,000) (30,000) (15,000) (15,000) (5,000) $ 50,000 (5,000) $150,000 $60,000