Ex 2. Blunt, Dodds and Fuller are in partnership. They shared profits in the ratio 1:3:2. It is decided to admit Baxter. It is agreed that goodwill is worth $60,000, but this is not to be brought into the business records. Baxter will bring $24,000 cash into the business for capital. The new profit-sharing ratio is to be Blunt 4, Dodds 5; Fuller 2; Baxter 1. The statement of financial position before Baxter was introduced was as follows: Asset (other than cash) 66,000 Cash 1,200 Total assets 67,200 Accounts payable (8,400) Net assets 58,800 Capitals: Blunt 14,000 Dodds 24,400 Fuller 20,400 58,800 Show: (a) The entries in the capital accounts of Blunt, Dodds, Fuller and Baxter, the accounts to be in columnar form. (b) The statement of financial position after Baxter has been introduced.