Submission deadline 18th May 2022; 12:00 pm, Korean time. Abel, Burt, and Cole are in partnership. They shared profits in the ratio 2:4:3. It is decided to admit Dodds. It is agreed that goodwill is worth $144,000 and that it is to be brought into the business records. Dodds will bring $60,000 cash into the business for capital. The new profit-sharing ratio is to be Abel 5: Burt 8: Cole 4: Dodds 3. Goodwill will be written off after Dodds was admitted.. The statement of financial position before Dodds was introduced was as follows: < < Assets (other than in cash) Cash Total assets Capitals: Abel Burt Cole Liabilities Account payable Required: $+ 400,000+ 4,000 404,000+ 114,000 152,000+ 76,000+ 62,000 404.000+ (a) The entries in the capital accounts of Abel, Burt, Cole, and Dodds. < (b) The statement of financial position after Dodds has been introduced.