7 Q5 points each; total 16 points. XY Partnership The Statement of Financial Position As of Dec 31, 2021 Asset Liab. And Capital Cash Other assets 60,000 200,000 Account Payable 60,000 X-Capital 90.000 Y-Capital 110.000 Total 260.000 total 260.000 X and Y share profits and losses in the ratio of 6:4. Each of the following questions is independent of the others Assume Zinvests 560,000 cash into XY partnership for a one-fourth interest in partnership capital and profits, and the total firm capital of the XYZ partnership is $260.000. What is the capital balance of Xafter Z is admitted a) Assume that invests $220,000 cash into the XY partnership for a one-fifth interest in partnership capital and profits and the total firm capital of the XNY partnership is $260,000. What is the capital balance of Y after Z is admitted into the partership? b) Assume that purchases one-fourth proportionate capital interest directly from X and Y for a total of $60,000, and the total firm capital of the XYZ partnership is $200,000. What are the capital balances of X and Y after Z is admitted into the partnership? c) Assume that invests $140,000 cash into the XY partnership for 50% interest in partnership capital and profits, and the total firm capital of the XNY partnership is $400,000. The capital balance of X, Y and Z are