=+3. Present a balance sheet for the new partnership as of May 1, 2010.

572 Chapter 12 Accounting for Partnerships and Limited Liability Companies Special Activities Dustin Edwards, M.D., and Daylan Hayes, M.D., are sole owners of two medical practices that operate in the same medical building. The two doctors agree to combine assets and liabilities of the two businesses to form a partnership. The partnership agreement calls for dividing income equally between the two doctors. After several months, the following conversation takes place between the two doctors: