Pink and Blue Partnership was formed on January 2, 2021. The following information is available: Under the partnership agreement, each partner has an equal initial capital balance accounted for under the goodwill method. Partnership net income or loss is allocated 40% to Pink and 6096 to Blue. To form the partnership. Pink contributed $20,000 cash and Blue contributed a building. The building's original cost is 550.000 with $5,000 accumulated depreciation and had a fair market value of $80,000 on January 2, 2021. The building also carries a $10.000 mortgage, which the partnership assumed. Drawings by the partners during the current year totaled $9,000 by Pink and $3,000 by Blue. The partnership's 2021 net income is $25,000. Pink's initial capital balance in the partnership is: (Hint: Some information is irrelevant and also which partner is contributing goodwill) A $45,000 B. $35,000 C. $70,000 D. $75,000