Bob and Stewart are equal partners in B & S banana goods, a specialty store that sells banana related merchandise. Bob contributed 16,000 in cash, and Stewart contributed inventory with a fair market value of 16,000 and an adjusted basis of 13,000. Which of the following statements about the partnership is true Bob's basis in the partnership is 16,000 and Stewart's is 13,000, Bob and Stewart each have a basis in the partnership of 16,000, Bob will have a larger share of the profits in Stuart, in Stuart will have a larger share at the profits and Bob.
