3) Floyd starts his own business, a barbershop. He owns a building which he used in a previous business that he closed several years ago. He originally purchased the building 20 years ago for $25,000, in the years he operated the previous business, he recorded total depreciation on the building of $8,000. Today when he starts the barbershop, the fair market value of the building is $27,000. What amount should he show the building on the ballance sheet of the barbershop business? A) $8,000 B) $17,000 C) $19,000 D) $25,000 E) $27,000 4) Teri, Doug, and Brian are partners with capital balances of $20,000,$30,000, and $50,000, respectively. They share income and losses in the ratio of 3:2:1. Revenue accounts for the period total $350,000. Expense accounts for the period total $380,000. The revenue and expense accounts are closed to the capital accounts. Doug withdraws from the partnership. How much cash does he receive upon withdrawal? A) $30,000 B) $20,000 C) $40,000 D) $24,000