The capital balances for the partnership of Li- ang, Tan, and Wu are as follows: $ 50,000 Capital-Liang. Capital-Tan. Capital-Wu 250,000 140,000 The partnership profit-sharing ratio is 1:6:3. A new partner, Gao, enters the partnership by investing cash directly in the partnership. Required Prepare the journal entry to record Gao's admission to the partnership, and compute the new capital bal- ances, in each of the following cases. Gao invests $60,000 for a 12 percent interest in the partnership. b. Gao invests S50,000 for a 12 percent interest in the partnership. The bonus method is used. Gao invests $72,000 for a 12 percent interest in the partnership. The goodwill method is used, and any revaluation is attributed to goodwill. a. c.