Teddy and Tony are in partnership, sharing profit and losses in the ration 3:5 respectively The statement of financial position drawn up on 31 December 2022 showed the following position: Assets Non-current assets Premises, at net book value Fixtures, at net book value Current Assets Inventory Trade receivables Cash Total Assets 16,000 6,000 22,000 4,000 3,000 5,000 12,000 34,000 Equity and liabilities Owners' equity Capital Accounts Teddy 11,000 Tony 14,000 Total owner's equity 25,000 Current liabilities Trade payables Total equity and liabilities 9,000 34,000 Teddy retired as from 1 January 2023 and at the same date Larry was admitted to the partnership For the purpose of these changes, the premises were revalued at $19,500, fixtures at 54,500, inventory at $5,800 and goodwill was agreed at $10,000. An allowance for doubtful debes of $200 is also to be created. The new valuations are to be included in the business books but no goodwill accounts is to be maintained. In the new partnership, profits and losses will be dividend in the proportions 3:2 between Tony and Larry Larry will introduce cash of $15,000 and Teddy is to receive payment for his capital in cash, but no other cash is to change hands between partners in implementing the change. Required: Prepare the above changes in revaluation account and the partners" capital account