Amanda and Benson have been in partnership for several years, sharing profits ans losses in the ratio of 3:1. Benson has decided to retire from the partnership on 31 December 2020 and Carol will become a new partner on 1 January 2021. Assets Non current Assets Goodwill Premises at cost Motor Vehicles (Net book value) Current Assets Inventory Trade Receivables Bank Total Assets Equity and Liabilities Capital Accounts Amanda Benson Current Accounts Amanda Benson Total Equity Non current Liabilities Loan from Benson Current Liabilities Amanda and Benson Statement of Financial Position at 31 December 2020 Trade Payables Total Equity and Liabilities Additional information: 1) The following items were revalued at: 2) 3) 4) Premises $120,000 Motor Vehicles $ 21,000 Inventory $ 58,000 62,400.00 34,200.00 2,700.00 $ 40,000.00 90,000.00 25,000.00 155,000.00 99,300.00 254,300.00 120,000.00 64,000.00 184,000.00 19,000.00 12,000.00 31,000.00 215,000.00 20,000.00 19,300.00 254,300.00 The goodwill was valued at $60,000 and will not be retained in the books of the new partnership. The current account balances and Benson's loan will be transferred to the capital accounts. Benson will take half of the amount owed to her as cash and the other half will remain in the new partnership as a loan.