Smith, one of the three partners in STU George, Ringo, and John have capital balances of $80,000,

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Smith, one of the three partners in STU George, Ringo, and John have capital balances of $80,000, $90,000 and $130,000 respectively when George and John personally agree to buy Ringo's share of the business. George pays Ringo $35,000 for 1/3 of his equity; John pays Ringo $70,000 for the remainder. Once the transaction has been recorded, the total capital will be Select answer from the options below $285,000. $300,000. $220,000. $315,000