Pilates and Wesson drafted a partnership agreement that lists the following assets contributed at the partnership's formation:

Contributed by

Pilates

$40,000 Cash

$0 Inventory

$0 Building

30,000 Furniture and equipment

Wesson

$60,000 Cash

30,000 Inventory

80,000 Building

$0 Furniture and Equipment

The building is subject to a mortgage of $20,000, which the partnership has assumed. The partnership agreement also specifies that profits and losses are to be distributed evenly. What amounts should be recorded as capital for Pilates and Wesson at the formation of the partnership?

A.)$70,000;$170,000

B.)$70,000; $150,000

C.)$110,000; $110,000

D.)$120,000;$120,000