Landow, Donovan, and Hansa, who are forming a partnership to operate an antiques gallery, are discussing how income and losses should be distributed. Among the facts they are considering are the following:
a. Landow will contribute cash for operations of $100,000, Donovan will contribute a collection of antiques that is valued at $300,000, and Hansa will not contribute any assets. b. Landow and Hansa will hand.