On October 31, 19X9, Jill Crabtree and Don Evelyn agree to combine their proprietorships as a partnership. Their balance sheets on October 31 are as follows:

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Prepare the partnership balance sheet at October 31, 19X9.

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Cash. Assets Accounts receivable (net) Inventory. Plant assets (net).. Book Crabtree's Business Current Book Value Market Value Value Evelyn's Business Current Market Value $ 3,700 $ 3,700 $ 8,000 $ 8,000 22,000 20,200 8,000 6,300 51,000 46,000 34,000 35,100 121,800 123,500 53,500 57,400 $198,500 $193,400 $103,500 $106,800 Total assets.... Liabilities and Capital Accounts payable $ 23,600 $ 23,600 $ 9,100 $ 9,100 Accrued expenses payable 2,200 Notes payable. 75,000 2,200 75,000 1,400 1,400 Crabtree, capital. 97,700 Evelyn, capital. 93,000 Total liabilities and capital........... $198,500 $193,400 $103,500 $106,800