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Problem 1: August, Blythe, and Caren are partners sharing profits and losses in the ratio of 5:3:2. During the year, their investments and withdrawals are as follows: Investment of August, Blythe, and Caren for $200,000, $175,000 and $375,000 respectively. Withdrawals of August, Blythe, and Caren amounting to $125,000, $62,500 and $62,500 respectively. On December 31, 2021, the partners decided to liquidate their business. After exhausting partnership assets, liabilities of $125,000 remain unpaid. August is personally insolvent. How much is the gain or loss on realization?
Option 1: $-125,000
Option 2: $-625,000
Option 3: $625,000
Option 4: $125,000
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