The balance sheet for A, B and C partnership was as follow: Assets Cash AP 70,000 120,000 Partnership capital: (30%) A 60,000 (20%) B 90,000 (50%) C 50,000 land 40,000 equipment 50,000 Other assets 60,000 Total assets 270,000 Total liabilities and capital 270,000 At that date A retires and he is paid $75,000 as a final settlement for his interests. Required: 1) Make the appropriate journal entries under goodwill approach assuming all assets are correctly valued except the land with a fair value 44,000?...(5points) 2) Prepare the balance sheet after retirement under goodwill approach?...(5 points)