Problem:
Bob and Kathy are partners who share profits 60% and 40%. Their capital balances were both $60,000 before Donna was admitted to the partnership. Donna contributed $100,000 in cash to the partnership for a 30% interest.
Required:
Question: After Donna is admitted to the partnership, Bob will have a capital balance of $__________?
Note: Be sure to show how you arrived at your answer.