Badger and Fox are forming a partnership. Badger contributes a building that has a market value of $364,000; the partnership assumes responsibility for a $132,000 note secured by a mortgage on the property. Fox invests $107,000 in cash and equipment that has a market value of $82,000. For the partnership, the amounts recorded for total assets and for total capital account are: Total assets $553,000; total capital $421,000. Total assets $553,000; total capital $553,000. Total assets $685,000; total capital $685,000. Total assets $421,000; total capital $553,000. Total assets $421,000; total capital $421,000