In the LMN partnership, Lynn's capital is $60,000, Marty's is $80,000, and Nancy's is $70,000. They share income in a 4:3:3 ratio, respectively. Nancy is retiring from the partnership. Each of the following questions is independent of the others.Refer to the above information. Nancy is paid $84,000, and no goodwill is recorded. What is Lynn's capital balance after Nancy withdraws from the partnership?
A. $53,000
B. $68,000
C. $52,000
D. $54,000
Answer: C
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