Case 12.1 Adam and Alice form the AA Partnership. The following table details information about their investments in the partnership. Accumulated Note Partner AssetCost DepreciationValue on Asset Adam Cash Adam Land Adam Building 140,000 $40,000 $190,000 $105,000 Alice Cash Alice Equipment $60,000 $20,000 $50,000 $15,000 Alice Automobile $25,000 $10,000 $20,000 $45,000 $55,000 $45,000 $105,000 $20,500 20,500 Record Adam's investment Record Alie's investment What will be the total assets on the balance sheet of the partnership immediately after the investments by Adam and Alice? What will be the total liabilities on the balance sheet of the partnership immediately after the investments by Adam and Alice