s #15 and #16 refer to the following: White, Blue & Yellow are partners who share profits and losses in a 2:2:1 ratio. The capital balances of the partners are currently $30,000, $20,000, and $10,000, respectively. Assume White decides to withdraw from the partnership. 15. If White is paid $24,000 in cash (from partnership assets) for his share of partnership assets, Blue's and Yellow's capital balances after the withdrawal will be: a. $20,000 and $10,000. b. $23,000 and $13,000. c. $24,000 and $12,000. d. $30,000 and $20,000. 16. If White is paid $36,000 in cash (from partnership assets) for his share of partnership assets, Blue's and Yellow's capital balances after the withdrawal will be: a. $20,000 and $10,000. b. $23,000 and $13,000. c. $24,000 and $12,000. d. $16,000 and $8,000. 17. Preferred shares on which unpaid dividends from past years accumulate and common shareholders cannot receive a dividend until all prior-year and current year dividends on preferred shares have been paid are called: a. Redeemable preferred shares. b. Retractable preferred shares. c. Convertible preferred shares. d. Cumulative preferred shares. e. Callable preferred shares. 18. Preferred shares that can be exchanged for common shares of the issuing corporation at the option of the preferred shareholder are called: a. Cumulative preferred shares. b. Callable preferred shares. c. Convertible preferred shares. d. Redeemable preferred shares. e. Retractable preferred shares