Ch 12 Homework B-Graded Question 1, EF12- 14 (similar to) Part 3 of 4 HW Score: 54.63%, 24.04 of > 44 points Points: 3.46 of Save 6 On December 31, 2024, Douglas and Gibson agree to combine their sole proprietorships into a partnership. Their balance sheets on December 31 are shown as follows: (Click the icon to view the balance sheets.) Read the requirements Homework: Ch 12 Homework B-Graded Question 1, EF12- 14 (similar to) Part 3 of 4 HW Score: 54.63%, 24.04 of > 44 points Points: 3.46 of Save 6 On December 31, 2024, Douglas and Gibson agree to combine their sole proprietorships into a partnership. Their balance sheets on December 31 are shown as follows: (Click the icon to view the balance sheets.) Read the requirements Requirement 2. Prepare the partnership balance sheet at December 31, 2024. (If a box is not used in the table leave the box empty, do not select a label or enter a zero) Douglas and Gibson Balance Sheet December 31, 2024 Total Assets Assets Data table Assets Cash Accounts Receivable Merchandise Inventory Plant Assets, Net Total Assets Liabilities and Owner's Equity Accounts Payable Other Accrued Payables Notes Payable Douglas, Capital Douglas s Business Current GIDSON S Business Current Market Book Value Market Value Book Value Value $ 17,000 $ 17.000 $ 11,000 $ 11,000 21.000 19,000 9,000 7,000 47,000 41,000 34,000 34.000 123,000 105,000 55,000 59,000 $ 208,000 $ 182,000 $ 109,000 $ 111,000 29,000 $ 29,000 $ 16,000 $ 16,000 14,000 14,000 56,000 56,000 109,000 ? 93,000 Gibson, Capital Total Liabilities and Owner's Equity 208,000 $ 182,000 $ 109,000 $ 111,000 Print Done - X