3. The capital account for Cardenas and San Jose have balances of 150,000 and 110,00, respectively. Labalan and Magada are to be admitted to the partnership. Labalan buys one-fifth of Cardena's interest for 35,000 and one fourth of San Jose's for 25,000. Magada contributes 70,000 cash to the partnership, for which she is to receive ownership equity of 70,000