Question 1: Gondi, Herron, and Morse is considering possible liquidation because partner Morse is personally insolvent. The partners have the following capital balances: $60,000, $70,000, and $40,000, respectively, and share profits and losses 30%, 45%, and 25%, respectively. The partnership has $200,000 in noncash assets that can be sold for $150,000. The partnership has $10,000 cash on hand, and $40,000 in liabilities. What is the minimum that partner Morse's creditors would receive if they have filed a claim for $50,000?

Question 2: Charlie Corp. owned 80% of Barry Corp.Ac€?cs common stock. During October 2011, Barry sold merchandise to Charlie for $140,000. At December 31, 2011, 50% of this merchandise remained in CharlieAc€?cs inventory. For 2011, gross profit percentages were 30% of sales for CharlieAc€?cs and 40% of sales for Barry. The amount of unrealized intra-entity profit in ending inventory at December 31, 2011 that should be eliminated in the consolidation process is

Question 3: Edwin Co. owned 70% of the voting common stock of Frank Co. During 2010, Frank made frequent sales of inventory to Edwin. There were unrealized gains of $40,000 in the beginning inventory and $25,000 of unrealized gains at the end of the year. Frank reported net income of $137,000 for 2010. Edwin decided to use the equity method to account for the investment. What is the non-controlling interest's share of Devin's net income for 2010?