3.On June 30, 2020, Seedot, a sole proprietor, Nuzleaf and Shiftry formed a partnership. They agreed to share profits and losses as follows: Seedot, 50%; Nuzleaf, 25% and Shiftry, 25% which will also be the basis of their initial capital ratio. Nuzleaf will contribute P70,000 cash and a building with a cost of P910,000, carrying amount of P735,000 and a fair value of P647,500. The building is subject to a P423,500 mortgage that the partnership will assume Shiftry is contributing P115,500 cash and a marketable securities costing P441,000 but currently worth P603,750. Seedot will pay off his notes with his personal funds. The balance sheet of Seedot is as follows: Seedot Proprietorship Balance Sheet June 30, 2020 ASSETS LIABILITIES & EQUITY Cash P105,000 Accounts Payables P556,500 Accounts Receivable, net 504.000 Notes Payable 651,000 Inventory 756,000 Seedot, Capital 892,500 Equipment, net 735.000 Total Assets 22,100,000 Total Liability & Equity P2,100,000 *net of accumulated depreciation of P210,000 The partners agreed that the inventory is worth P892,500 and the equipment is worth half of its original cost and the allowance established for the accounts receivable is correct. How much is the agreed capital of Seedot if the partners agreed to use the bonus method and if the partners agreed to use revaluation method? Bonus Method 1,417,500; Revaluation 1,438,500 Bonus Method 1,215,375; Revaluation 1,438,500 Bonus Method 1,215,375; Revaluation 1,417,500 Bonus Method 1,417,500; Revaluation 1,215,375