Computing Partner' Capital Contribution and Statement of Financial Position Preparation Francis, the proprietor of Francis Landscaping Services invites Pio to be a partner in his business. Accounts in the ledger of Francis on October 1, 2023 just before the admission of Pio show the following: It was agreed that for the purpose of establishing Francis' interest, the following adjustments shall be made: 1. The allowance for bad debts shall be increased to 1.5% of accounts receivable. 2. The Landscaping Supplies inventory is to be valued at P560,000. 3. And a professional appraiser estimated that the furniture and equipment is worth P800,000. Pio is to invest cash which will make him an equal partner of Francis. How much is the adjusted capital balance of Francis upon formation of the partnership? In the previous problem pertaining to the partnership of Francis and Pio, how much is the cash investment of Pio upon formation of the partnership