Extracted text: 25. The condensed balance sheet of the 3M Partnership as of June 30, 2020 with the corresponding profit and loss shares of the partners is as follows: Net assets - 400,000; Mark, capital (50%) – 200,000; Mon, capital (30%)-120,000; Mike, capital (20%)- 80,000. As of said date, Mark retired from the partnership. As agreed, he was paid P225,000 for his interest. As per agreement, assets are to be revalued prior to Mark's retirement. What is the total capital of Mon and Mike after Mark's retirement?
Extracted text: 26. The Sheen, Jimmy and Carl partnership had the following balance sheet just before entering liquidation: Cash P10,000 Liabilities P130,000 Noncash assets 300,000 Sheen, capital 60,000 Jimmy, capital 40,000 Carl, capital 80,000 P310,000 P310,000 Sheen, Jimmy and Carl share profits and losses in a ratio of 2:4:4. Non-cash assets were sold for P180,000. Liquidation expenses were P10,000. Assume that Jimmy was personally insolvent and could not contribute any assets to the partnership, while Sheen and Carl were both solvent. What amount of cash would Sheen receive from the distribution of partnership assets?