On December 31, the capital balances and profit and loss ratios in the MRS Partnership are as follows Partner B. McLaren P. Ready D. Symes Capital Balance $106,000 93,000 53,000 Profit and loss ratio 51% 24% 25% Assume Symes withdraws from the partnership on December 31 of the current year under each of the following independent conditions: (a) (b) (c) Symes is paid $50,000 cash from partnership assets. Symes is paid $59,000 cash from partnership assets. McLaren and Ready agree to purchase Symes' equity by paying $27,500 each from their personal assets. Each purchaser receives 50% of Symes' equity. Ready agrees to purchase all of Symes' equity by paying $60,000 cash from his personal assets. McLaren agrees to purchase all of Symes' equity by paying $48,000 cash from his personal assets. Symes withdraws $53,000 cash from the partnership. (d) (e) (f) No. Account Titles and Explanation Debit Credit (a) > (b) > D. Symes, Capital P. Ready, Capital Cash Income Summary B. McLaren, Capital (c) > (d) > B. McLaren, Capital (a) P. Ready, Capital (c) (d) (e) (f) Bal. Total equity $ Part (b) D. Symes, Capital B. McLaren, Capital Total equity GA