Dave LaCroix recently received a 10 percent capital and profits interest in Cirque Capital LLC in exchange for consulting services he provided. If Cirque Capital had paid an outsider to provide the advice, it would have deducted the payment as compensation expense. Cirque Capital's balance sheet on the day Dave received his capital interest appears below: Basis Fair Market Value $ $ 270,000 140,000 150,000 $ 560,000 270,000 164,000 320,000 754,000 $ Assets: Cash Investments Land Totals Liabilities and capital: Nonrecourse Debt Lance* Robert* Totals $ $ 240,000 160,000 160,000 $ 560,000 240,000 257,000 257,000 754,000 $ *Assume that Lance's basis and Robert's basis in their LLC interests equal their tax basis capital accounts plus their respective shares of nonrecourse debt. (Leave no answer blank. Enter zero if applicable.) c. Prepare a balance sheet for Cirque Capital immediately after Dave's admission showing the members' tax capital accounts and their capital accounts stated at fair market value. c. Prepare a balance sheet for Cirque Capital immediately after Dave's admission showing the members' tax capital accounts and their capital accounts stated at fair market value. Cirque, LLC Balance Sheet Tax Basis 704(b)/EMV 270,000 $ 140,000 150,000 560,000 $ 270,000 164,000 320,000 754,000 $ Assets: Cash Investments Land Totals Capital: Nonrecourse Debt Capital-Lance Capital-Robert Capital-Dave Totals $ 240,000 $ 240,000 51,400 291,400 $ 51,400 291,400 $ $ e. Compute each member's tax basis in his LLC interest immediately after Dave's receipt of his interest if Dave receives only a profits interest. Dave Lance Robert Tax basis