The statement of members' equity for Aztec Mines, LLC, is shown at the top of the following page.

a. What was the income-sharing ratio in 2007?
b. What was the income-sharing ratio in 2008?
c. How much cash did Cleveland Porter contribute to Aztec Mines, LLC, for his interest?
d. Why do the member equity accounts of Utah Properties, LLC, and Aztec Holdings, Ltd., have positive entries for Cleveland Porter's contribution?
e. What percentage interest of Aztec Mines did Cleveland Porteracquire?

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Aztec Mines, LLC Statement of Members' Equity For the Years Ended December 31, 2007 and 2008 Utah Aztec Properties Holdin Ltd., Member Equity Cleveland Porter, Member Equity LLC Total Members' Member Equity Equity Members' equity, January 1, 2007 Net income Members' equity, December 31, 2007 Porter contribution Net income Less member withdrawals Members' equity, December 31, 2008 $460,000 70,000 $530,000 5,000 78,400 (32,000) $581,400 $310,000 210,000 $520,000 15,000 254,800 (48,000) $741,800 770,000 280,000 51,050,000 287,500 392,000 (130,000) 276,300 1,599,500 $267,500 58,800 (50,000)