Problem 12-1A The post-closing trial balances of two proprietorships on January 1, 2017, are presented below Sorensen Company Lucas Company Dr Cash Accounts receivable Allowance for doubtful accounts Inventory Equipment Accumulated depreciation-equipment Notes payable Accounts payable Sorensen, capital Lucas, capital $14,000 $12,000 26,000 17,500 $3,000 $4,400 26,500 45,000 18,400 29,000 24,000 18,000 22,000 36,000 11,000 15,000 31,000 24,000 $103,000 $103,000 $85,400 $85,400 Sorensen and Lucas decide to form a partnership, Solu Company, with the following agreed upon valuations for noncash assets