Michael and Brian Each Invested $65 000 in a Partnership

Multiple Choice

Michael and Brian each invested $65 000 in a partnership where they agreed to share profits 40% Michael, 60% Brian. The partnership business was not successful and now has no assets. In addition they are being sued for $70 000 by a supplier for non- payment of invoices. What is the amount for which Michael could be held personally responsible if the lawsuit is successful? (Ignore any possible legal costs.)

A) Zero
B) $28 000
C) $65 000
D) $75 000