Better Corp. (BC) began operations on January 1, Year 1. During Year 1, BC experienced the following accounting events: Acquired $7,000 cash from the issue of common stock.
Borrowed $12,000 cash from the State Bank.
Collected $47,000 cash as a result of providing services to customers.
Paid $30,000 for operating expenses.
Paid an $8,000 cash dividend to the stockholders.
Paid $20,000 cash to purchase land.

The capital balances, prior to the liquidation of the benjamin, gaynor, megan partnership, were as follows: benjamin, capital $100,000gaynor, capital $120,000megan, capital $175,000benjamin, gaynor, and megan share profits and losses in the ratio of 25%, 40%, 35%. as a result of a loan, the partnership owes gaynor $80,000. using the information above, which partner has the highest loss absorption power (lap) prior to liquidation? a. gaynorb. meganc. benjamind. both gaynor and megan have the same lap