On May 1, 2019, Stanley Carpenter and Fred Kenamond formed The Wine Shop. The two partners invested cash and other assets and liabilities with the following agreed-upon values: Carpenter: Cash, $11,600; Merchandise inventory, $23,600; Equipment, $75,600; Accounts payable, $13,400. Kenamond: Furniture, $23,600; Cash, $35,600. Carpenter is to own two-thirds of the capital, and Kenamond is to own one-third of the capital, but they will split profits and losses equally. Prepare a balance sheet for the partnership just after the assets and liabilities have been transferred to it.

THE WINE SHOP Balance Sheet May 1, 2019 Assets Total Assets $0 Liabilities and Partners' Equity Partners' Equity Total Liabilities and Partners' Equity $0