X and Y currently operate as a partnership and share income on a 50 dash 50 basis. X&Y currently report the following capital balances. Capital X equals $500,000 an capital Y equals $500,000. Assume that a new partner Z will join the partnership. Partner Z contributes cash of $300,000 to the partnership and will receive a 20% share of equity while X&Y will each receive 40% equity shares. Assuming the bonus method will be used which of the following capital balances will the three partners report after Z joins? a. X's capital is 500,000, y's capital is 500,000, Z's capital is 300,000 b. X's capital is 520,000, y's capital is 520,000, Z's capital is 260,000 c. X's capital is 400,000, y's capital is 400,000, Z's capital is 300,000 d. None of the above