on june 1, 3009 nON JUNE 1,2009, KEVIN SCHMIDT AND dAVID COHEN FORM A PARTNERSHIP . SCHMIDT AGREES TO INVEST $12,000 CASH AND MERCHANDISE INVENTORY VALUED AT $32,000.COHEN INVEST CETAIN BUSINESS ASSETS AT VALUATIONS AGREED UP ON, TRANSFER BUSSINESS LIABILITIES, AND CONTRIBUTES SUFFICIENT CASH TO BRING HIS TOTAL CAPITAL TO $80,000.DETAILS REGARDING THE BOOK VALUES OF THE BUSSINESS ASSETS AND LIABILITIES, AND THE AGREED VALUATIONS FOLLOW: