S. Stephens and J. Perez are partners in Space Designs. Stephens and Perez share income equally. D. Fredricks? S. Stephens and J. Perez are partners in Space Designs. Stephens and Perez share income equally. D. Fredricks will be admitted to the partnership. Prior to the admission, equipment was revalued dawnward by $8,000. The capital balances of each partners are $100,000 and $139,000, respectively, prior to the revaluation