Caitlin, Chris, and Molly are partners and share income and losses in a 3:4:3 ratio. The partnership's capital balances are Caitlin, $123,000; Chris, $83,000; and Molly, $103,000. Paul is admitted to the partnership on July 1 with a 10% equity and invests $63,000. The balance in Paul's capital account immediately after his admission is:
A. $37,200
B. $108,800
C. $57,200
D. $309,000
E. $166,000
Answer: A
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