1. The partnership of Adams and Baker was formed on February 28, 2011. At that date the following assets were invested: Adams Baker 120,000 $20,000 Cash Merchandise Building Furniture and equipment 120,000 940,000 200,000 The building is subject to a mortgage loan of S300,000, which is to be assumed by the partnership. The partnership agreement provides that Adams and Baker share profits or losses 40% and 60%, respectively. Baker's capital account at February 28, 2011 should be what amount? 2. The following balance sheet information is for the partnership of Abel, Ball, and Catt Cash Other assets s 210,000 1,500,000 Liabilities Abel, Capital (40%) Ball, Capital (40%) Catt, Capital (20%) $ 710,000 300,000 400,000 300.000 1.710,000 Figures shown parenthetically reflect agreed profit and loss sharing percentages If the assets are fairly valued on the above balance sheet and the partnership wishes to admit Dent as a new 1/4 partner without recording goodwill or bonus, Dent should invest cash or other assets of what amount