QUESTION 8 8. Sherry and Joan both have been in a partnership where they shared in profits and losses at a rate of 40% and 60%, respectively. Mecca was admitted to the partnership paying $175,000 for a 25% interest in the partnership. Immediately before admitting Mecca to the partnership, Sherry and Joan had capital balances of $200,000 and $350,000, respectively. What is Joan's capital balance after being admitted to the partnership? A. $346,250 B. $197,250 C. $197,500 D. $348,250