The following information is available on TGR Enterprises, a partnership, for the most recent fiscal year: Total partnership capital at beginning of the year$180,000Partnership net income for the year$150,000Withdrawals by partners during the year$120,000Additional investments by partners during the year$60,000There are three partners in TGR Enterprises: Tracey, Gregory and Rodgers. At the end of the year, the partners' capital accounts were in the ratio of 2:1:2, respectively. Compute the ending capital balances of the three partners.
A. Tracey = $90,000; Gregory = $90,000; Rodgers = $90,000.
B. Tracey = $108,000; Gregory = $54,000; Rodgers = $108,000.
C. Tracey = $204,000; Gregory = $102,000; Rodgers = $204,000.
D. Tracey = $84,000; Gregory = $102,000; Rodgers = $84,000.
E. Tracey = $60,000; Gregory = $30,000; Rodgers = $60,000.
Answer: B
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