Requirements 1. Compute each partner's equity on the books of the new partnership under the following plans a. Hynes pays $115,000 for Newbell's equity. Hynes pays Newbell directly. b. Hynes contributes $95,000 to acquire a 1/4 interest in the partnership. c. Hynes contributes $165,000 to acquire a 1/4 interest in the partnership 2. Journalize the entries for admitting the new partner under plans a,b, and c Hynes is admitted to the partnership of Rengel \& Newbell. Prior to her admission, the partnership books show Rengel's capital balance at $190,000 and Newbell's at $95,000. Assume Rengel and Newbell share profits and losses equally. Read the Requirement 1. Compute each partner's equity on the books of the new partnership under the following pfans: a. Hynes pays $115,000 for Newbell's equity. Hynes pays Newbell directly Begin by computing the partner's equity base for plan a. Hynes pays $115,000 for Newbell's equity. Hynes pays Newbell directly. (Enter a share for each partner. Complete all answer boxes. For accounts with a $0 balance, make sure to enter " 0 " in the appropriate cell. Enter negative amounts with a parentheses or minus sign.)