_____ on 7/1/06, Pane and Sills Formed a Partnership, and Each

_____ On 7/1/06, Pane and Sills formed a partnership, and each contributed assets with agreed-upon values as follows:
The building is subject to a mortgage loan of $100,000, which is to be assumed by the partnership. The agreed-upon value of the building is $50,000 more than its tax basis of $300,000. The partnership agreement provides that Pane and Sills share profits and losses 60% and 40%, respectively.
Using this information, on 7/1/06, the balance in Sills's capital account should be

A) $380,000
B) $330,000
C) $300,000
D) $280,000
E) None of the above.