5A.) The following condensed balance sheet is presented for the partnership of Axel, Barr and Cain, who share profits and losses in the ratio of 4:3:3, respectively. Cash Other assets Total assets 100,000 300,000 400.000 Liabilities Axel, capital Barr, capital Cain, capital Total liabilities and capital 150,000 40,000 180,000 30,000 400,000 The partners agreed to dissolve the partnership after selling the other assets for $200,000. Upon dissolution of the partnership, how much should each partner receive ? Answer- 7 points (show calculation) 5B.)Jay and Kay partnership's balance sheet at December 31, 2018 reported the following: Total assets Total liabilities Jay, capital Kay, capital 120,000 20,000 40,000 40,000 On January 2, 2019, Jay and Kay dissolved their partnership and transferred all assets and liabilities to a newly formed corporation. At the date of incorporation, the fair value of the net assets was $12,000 more than the carrying amount on the partnership's books, of which $7,000 was assigned to tangible assets and $5,000 was assigned to goodwill. Jay and Kay were each issued 10,000 shares of the corporation's $1 par value common stock. Immediately following incorporation, additional paid-in-capital in excess of par should be credited for how much? Answer-8 points (show calculation)