Nunes, Orta and Paulo are partners providing engineering services. Relevant data regarding income-sharing relationship and capital balances are as follows: Orta retires and receives $210,000 in cash from the partnership. Partnership net assets are recorded at amounts approximating fair value. If the total goodwill approach is used, Paulo's capital balance after Nunes' retirement is: Select one: a. $100.000 b. $212.500 c. $150.000 d. $200,000 J. K and L have been partners for many years. J and K acquire L's partnership interest for $300,000, using their personal assets. J contributes $100,000 and K contributes $200,000 for the transaction. The partners' capital balances before L's retirement and their income/loss sharing percentages are as follows: Assuming J and K maintain their relative income sharing ratio, after L's departure. J's capital balance will be: Select one: a. $180,000 b. $137,000 c. $163,500 d. $114,200 On October 25,2023 , a U.S. company sold merchandise on credit to a customer in Spain at an invoice price of 1,000. when the exchange rate was $1.12/. On December 31, 2023, the U.S. company's year-end, the exchange rate was $1.115/. On February 1, 2024, when the exchange rate was 1.119, the U.S. company received 1,000 in payment for the merchandise. The U.S. company's exchange gain or loss for 2023 is Select one: a. $5 loss b. $1 loss c. $1 gain d. $5 gain