3. The Partners' Capital Statement for TSB Company reported the following information in total Capital, January $240,000 80,000 160,000 200,000 The partnership has three partners: Toub, Sauls, and Birch with ending capital balances in a ratio 40:20:40. What are the respective ending balances of the three partners? a. Toub, $160,000; Sauls, $80,000; Birch, $160,000. b. Toub, $144,000: Sauls, $72,000; Birch, $144,000. c. Toub, $272,000; Sauls, $136,000; Birch, $272,000 d. Toub, $180,000; Sauls, $96,00000; Birch, $180.000. Part II, Resolve the following exercise (25 points) The Zhuz er Company at December 31 has cash $50,000, noncash assets $250,000, liabilities $138,000, and th e following capital balances: Zhu $37,000, Zuam $75,000 and Zerkel $50,000. The firm is liquidated, and 265,000 in cash is received for the noncash assets. Zhu, Zuam and Zerkel income ratios are 6:4:2 respectively. Instructions Prepare the entries to record: (a) (b) (c) (d) The sale of noncash assets. The allocation of the gain or loss on liquidation to the partners. Payment of creditors. Distribution of cash to the partners