1. Partners All, Bak, and Coe share profits and losses 50:30:20, respectively. The balance sheet at April 30, 2016, follows:

Assets Equities Cash $40,000 Accounts payable $100,000 Other assets 360,000 All capital 74,000 Bak capital 130,000 Coe capital 96,000

$400,000 $400,000