Ann, Bill, Carl and Dawn have the following partnership business: Assets Cash Current assets Land Building and Equip't $55,000 30,000 205,000 110,000 Liabilities and equities Liabilities Ann, capital Bill, capital Carl, capital Dawn, capital Total Liab, and Eq's $40,000 60,000 70,000 90,000 140,000 $400,000 Total assets $400,000 The partners share profits and losses equally. Provide the partners' ending capital balances in each of the following independent situations. a. Elmore is added to the partnership after contributing to the business. No goodwill or bonus is recorded. $60,000 b. Elmore contributes $100,000 in cash to the business and receives a 20% interest in the partnership. Elmore's $100,000 investment is considered 20% of the new business's value, so goodwill may need to be recorded. (Elmore's capital balance will be exactly $100,000.) C. Elmore is added to the partnership and receives 20% of each partner's interest in the business after paying $19,000 directly to each of the four partners. No goodwill is recorded. d. Carl retires and has been paid 110% of his capital balance according to the terms of the original partnership agreement. The bonus method is used