Sol and Joe Are Partners Sharing Profits and Losses in a 3:2

Multiple Choice

Sol and Joe are partners sharing profits and losses in a 3:2 ratio for Sol and Joe, respectively. Their capital balances are $17,000 and $19,000, respectively. The partners agree to admit Dan for $16,000 for a 25% interest in the partnership. Joe's capital balance after admitting Dan is:

A) $17,000.
B) $20,800.
C) $19,160.
D) $3,000.