In 2010, A and B wanted to join their resources and establish a partnership. The book values of their separate sole proprietorships are the following:

	A	B
Cash	220,000	200,000
Accounts receivable, net	144,000	84,000
Inventory	221,000	156,000
PPE, net	573,000	423,000
Accounts payable	258,000	263,000
Capital	900,000	600,000

The partners agreed that P66,000 of As accounts receivable are no longer collectible, and that P99,000 of As inventory are obsolete. As PPE should also be increased to P580,000. A will personally settle the P258,000 accounts payable of his sole proprietor; hence, the partnership will not be assuming thisliability.

Bs sole proprietor balances are already recorded at fair value, and the partnership will be assuming the P263,000 accounts payable of his business.

1. Assuming the partners did not agree on a profit/loss agreement, what is the percentage of As share in the net income?
2. Assuming the partners wanted their capital balances to be equal, how much bonus will A receive from B?
3. Assuming Bs investment represents 40% of the company, using him as the base, how much additional cash, if any, will A invest or withdraw from the partnership? Indicate if invest or withdraw.
4. Assuming your answer in No. 3 is correct, how much is the total cash of the partnership?