Required information The following information applies to the questions displayed below) Dave LaCroix recently received a 10 percent capital and profits interest in Cirque Capital LLC in exchange for consulting services he provided If Cirque Capital had paid an outsider to provide the advice, it would have deducted the payment as compensation expense Cirque Capital's balance sheet on the day Dave received his capital interest appears below Basis Fair Market Value $ 210,000 $ 100,000 299, ece $ 600,00 $ 210,080 126,000 420.000 756.000 Assets Cash Investments Land Totals Liabilities and capital: Nonrecourse Debt Lance Robert Totals $ 230,000 $ 185.000 185,000 $ 600,000 $ 230,000 265,000 253,000 756,000 "Assume that Lance's basis and Roberts basis in their LLC interests equal their tax basis capital accounts plus their respective shares of nonrecourse debt. (Leave no answer blank. Enter zero if applicable.) c. Prepare a balance sheet for Cirque Capital immediately after Dave's admission showing the members tax capital accounts and their capital accounts stated at fait market value c. Prepare a balance sheet for Cirque Capital immediately after Dave's admission showing the members' tax capital accou capital accounts stated at fair market value. Answer is not complete. Cirque, LLC Balance Sheet Tax Basis 704(b)/FMV Assets Cash $ $ Investments 210,000 100.000 290.000 600.000 210,000 126,000 420.000 756,000 Land $ $ $ 230.000 $ 230,000 Totals Capital Nonrecourse Debt Capital-Lance Capital-Robert Capital-Dave Totals 52 600 52,600 282,600 $ 282.600 S