Allen, Chasey and Erna of ACE Co. share profits and losses in the ratio of 4:4:2, respectively. The partners decide to liquidate. All assets of the partnership were liquidated. The condensed balance sheet just prior to liquidation follows:

ASSETS:

Cash - 100,000

Other Assets - 400,000

TOTAL ASSETS -500,000

LIABILITIES and CAPITAL:

Liabilities - 140,000

Allen, Loan - 10,000

Allen, Capital - 45,000

Chasey, Capital - 105,000

Erna, Capital - 200,000

TOTAL LIABILITIES and CAPITAL -500,000

Other Assets were sold for 247,500 realizing a loss of 152,500. Parties agreed to fully terminate the partnership's business, thus, necessitating distribution of cash to partners and in the event of capital deficiency, contribution of additional cash. The three partners were all solvent and could answer any deficiency.

How additional cash Allen had to invest due to his net capital deficiency to finally settle the liquidation of the partnership?