Al, Bebe, Chns and Drew have the following partnership business: Assets Liabilities and equities Cash $55,000 Liabilities Current assets 30,000 Al, capital Land 205,000 Bebe, capital Building and Equip't 110,000 Chris, capital Drew, capital Total assets $400,000 Total Liab, and Eq's The partners share profits and losses equally. Provide the partners' ending capital balances in each of the following independent situations. a. Edy is added to the partnership after contributing to the business. No goodwill or bonus is recorded. b. Edy contributes $100,000 in cash to the business and receives a 20% interest in the partnership. Edy's $100,000 investment is considered 20% of the new business's value, so goodwill may need to be recorded. (Edy's capital balance will be exactly $100,000.) C. Edy is added to the partnership and receives 20% of each partner's interest in the business after paying $29,000 directly to each of the four partners, not into the business. No goodwill is recorded. d. Chris retires and has been paid 120% of his capital balance according to the terms of the original partnership agreement. The bonus method is used. $40,000 60,000 70,000 90,000 140,000 $400,000 $60,000