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Elkins and Landry are partners who share income and losses in the ratio of 3:2, respectively. On August 31, their capital balances were: Elkins, $140,000

Elkins and Landry are partners who share income and losses in the ratio of 3:2, respectively. On August 31, their capital balances were: Elkins, $140,000 and Landry, $120,000. On that date, they agree to admit Neumark as a partner with a one-third capital interest. If Neumark invests $100,000 in the partnership, what is Elkinss capital balance after Neumarks admittance?

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