Required information When High Horizon LLC was formed, Maude contributed the following assets in exchange for a 25 percent capital and profits interest in the LLC: Fair Market Value Basis Maude: Cash Land Totals $ 28,eee $ 28,000 128,588 385,500 $156,5ee $413, see "Nonrecourse debt secured by the land equals $175,500 James, Harold, and Jenny each contributed $238,000 in cash for a 25 percent profits and capital interest (Leave no answer blank. Enter zero if applicable.) e. Prepare a tax basis balance sheet for the High Horizon LLC showing the tax capital accounts for the members. (Enter any capita account with a debit balance as a negative amount.) Required information High Horizons, LLC Tax Basis Balance Sheet Tax Basis Assets: Cash Land Totals Liabilities and capital: Mortgage debt Capital-Maude Capital-James Capital-Harold Capital-Jenny es Totals