Part B Peter, Chris, and Tony are partners who share profit and loss in a 2:4:4 ratio. The partnership's capital balances are as follows: Peter, $142,000; Chris, $260,000; and Tony, $188,000. Jen invests $200,000 cash and is admitted to the partnership on April 1 with a 20% equity. Prepare the journal entries to record Jen's entry into the partnership. (5 marks) What are the ways that a new partner can be admitted to an existing partnership? Explain the impact on firm's total assets and total equity under each of these circumstances. (4 marks)