In a partnership business, George has an ownership of 60% and Ben has an ownership of 40%. For developing the business, they purchased equipment for $10,000. George contributes a sum of $7,000 and Ben makes a contribution of $3,000 on July 1. Based on the information provided, which of the following is true of the partnership balance sheet?

George, Capital will increase by $6,000 and Ben, Capital will increase by $4,000.

Both George, Capital and Ben, Capital will increase by $10,000.

George, Capital will increase by $10,000 and Ben, Capital will remain unchanged.

George, Capital will increase by $7,000 and Ben, Capital will increase by $3,000.