H. As of February 1, 2013, Heckel and Jeckel decided to form a partnership. Their statements of financial position on this date are as follows: Heckel Jeckel Cash P41,000 P53,500 Accounts Receivable 425,000 280,000 Merchandise Inventory 242,500 Property, Plant and Equipment 360,000 470,000 Total 826,000 1,046,000