Rahman, Ganesh and Malik had a highly profitable accounting business organized as a partnership with equal sharing of profits and losses. At the end of 2014, all partners agreed to liquidate the partnership. At that time the balance sheet was as follows:

Liabilities and Owner's Equity:

Accounts Payable: $5,000

Rahman,Capital $51,600

Ganesh, Capital $64,400

Malik Capital $90,000

Assets: Total Liabilities and Owner's Equity: $211,000

Cash: $51,000

Inventory: $60,000

Land: $100,000

Total Assets: $ 211,000