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On November 30 , capital balances are Chris $298000, Ellis $241000 and Gise $241000. The income ratios are 20%,20% and 60%, respectively. Chris decides to

image text in transcribed On November 30 , capital balances are Chris $298000, Ellis $241000 and Gise $241000. The income ratios are 20%,20% and 60%, respectively. Chris decides to retire from the partnership. The partnership pays Chris $349000 cash for her partnership interest. After Chris's retirement, what is the balance of Ellis's capital account? $323500$241000$228250$230800

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