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Kex and Kelsey are partners who share income in the ratio of 3:2 (3/5 to Rex and 2/5 to Kelsey). Their capital balances are $95,000

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Kex and Kelsey are partners who share income in the ratio of 3:2 (3/5 to Rex and 2/5 to Kelsey). Their capital balances are $95,000 and $140,000, respectively, on January 1. The partnership generated net incomle of $40,000 for the year. What is Rex's capital balance after closing the revenue and expense accounts to the capital accounts? a. 5146.000 b. $111.000 C. 571.000 d. $119.000

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