statement of changes in partners' capital for the year ended December 31, 2016.

Tom and Julie formed a management consulting partnership on January 1, 2016. The fair value of the net assets invested by each partner follows: Tom Julie Cash $12,100 $13,100 Accounts receivable 8,800 6,500 Office supplies 2,100 800 Office equipment 27,300 Land 28,200 Accounts payable 1,900 5,200 Mortgage payable 20,300