. The partnership of Abel and Caine was formed on February 28, 2017. At that date the following assets were invested:

Abel Caine

Cash $ 120,000 $200,000

Merchandise -0- 320,000

Building -0- 840,000

Furniture and equipment 200,000 -0-

The building is subject to a mortgage loan of $280,000, which is to be assumed by the partnership. The partnership agreement provides that Abel and Caine share profits or losses 30% and 70%, respectively. Caines capital account at February 28, 2017, should be

a) $1,080,000.

b) $1,360,000.

c) $1,176,000.

d) $952,000.