Partnership Income Allocation-Various Options The January 1, 2017, balance sheet of the partnership of Linda Kingston and Jeannette Allen is shown below. Assets Liabilities and Capital Cash $24,000 Liabilities $72,000 Other assets 216,000 Capital - Kingston Total assets $240,000 Total liabilities and capital $240,000 67,200 Capital - Allen 100,800 The partnership reported revenues of $96,000 and expenses of $66,000 for 2017. Neither partner withdrew funds from the partnership during the year. Kingston invested $9,600 in the firm on June 28, 2017. Required Compute the December 31, 2017, capital balance for each partner under each of the following assumptions: