Use the following information to answer the next 2 questions. The partnership of Smith and Johnson had the following Balance sheet and profit and loss ratios just before liquidation $450,000 20,000 Accounts payable Capital, Smith 60% 195,000 Capital, Johnson 40% 155,000 Total liab. and capita S470,000 Other assets $120,000 Receivable from Smith Total assets The other assets are sold for cash of $385,000 $470,000 17. What are the capital account balances of the partners after the sale is allocated? Smith a. $144,000 b. $159,000 e. Si56,000 d. $162,500 Johnson $104,000 $119,000 $129,000 $122,500 18. How much cash will Smith get on the final distribution? a. $124,000 b. $176,000 c. 156,000 d. $136,000