Partners in MNO Partnership have capital accounts and income-sharing percentages as follows: Partners M and N buy Partner O's interest for $200.000, using their personal assets. The partners retain their relative income-sharing ratio. After this transaction, Partner M's capital balance is: Select one: a. $195,000 b. $190,000 c $170,000 d. $210.000 Partnerships often organize as LLCs or LLPs to Select one: a. Reduce taxes. b. Reduce liability for partnership debts. c. Reduce liability for individual debts. d. Reduce transferability of partnership interests. On October 31,2023 , when the exchange rate was $0.75/5$, a U.S. company purchased merchandise from a Singapore supplier for $10,000, and paid for the merchandise on January 15 . 2024, when the exchange rate was $0.745/S$. On November 15.2023 , when the exchange rate was $0.80/C$, the U.S. company sold the merchandise to a customer in Canada at an invoice price of C$20,000. On January 31,2024 , when the exchange rate was $0.815/C$, the U.S. company received payment of C$20,000 from the Canadian customer. The U.S. company's accounting year ends December 31 . The exchange rates at December 31,2023 , were $0.76/5$ and $0.78/C$. What gross margin on the sale of merchandise does the U.S. company report in 2023? Select one: a. $8.100 b. $8.400 c $10,000 d. $8.500