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After the formation of ABC Ventures, Alice contributes $110,000 in cash and $20,000 worth of office furniture, while Bob contributes $70,000 in cash and $60,000

After the formation of ABC Ventures, Alice contributes $110,000 in cash and $20,000 worth of office furniture, while Bob contributes $70,000 in cash and $60,000 worth of inventory. Prepare the balance sheet for the partnership.

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