7. The following balance sheet is presented for the partnership of Davis, Wright, and Dover who share profits and losses in the ratio of 5:3:2 respectively: Cash $ 60,000 Other assets 540,000 $600.000 Liabilities Davis, Capital Wright, Capital Dover, Capital $140,000 280,000 160,000 20,000 $600,000 Assume that the assets and liabilities are fairly valued on the balance sheet and the partnership decided to admit Hank as a new partner with a one-fifth interest. No goodwill or bonus is to be recorded. How much should Hank contribute in cash or other assets? a. $120,000 b. $115,000. c. $ 92,000. d. $ 73,600