Capital balances and profit sharing percentages for the partnership of Man, Eme, and Fot on January 1, 2011, are as follows: Man (36%) ………….. $140,000 Eme (24%) …………… 100,000 Fot (40%) ……………. 160,000...

Capital balances and profit sharing percentages for the partnership of Man, Eme, and Fot on January 1, 2011, are as follows:
Man (36%) ………….. $140,000
Eme (24%) …………… 100,000
Fot (40%) ……………. 160,000

$400,000
On January 3, 2011, the partners agree to admit Box into the partnership for a 25 percent interest in capital and earnings for his investment in the partnership of $120,000. Partnership assets are not to be revalued.
REQUIRED
1. Determine the capital balances of the four partners immediately after the admission of Box.
2. What is the profit and loss sharing ratio for Man, Eme, Fot, and Box?