The post-closing trial balances of two proprietorships on January 1, 2022, are presented below. Sorensen and Lucas decide to form a partnership, Cullumber Company, with the following agreed upon valuations for noncash assets. All cash will be transferred to the partnership, and the partnership will assume all the liabilities of the two proprietorships. (a) Date Account Titles and Explanation Jan. 1 Jan. 1 Debit Credit Credit (Transfer of Sorensen's assets and liabilities.) Jan. 1 (Transfer of Lucas' assets and liabilities.) (b) No. Jan. 1 (To record Sorensen's investment.) Jan. 1 (To record Lucas' investment.) Debit Credit (c) Prepare a classified balance sheet for the partnership on January 1, 2022. (List Current Assets in order of liquidity.) CULLUMBER COMPANY Balance Sheet Assets $ $ $ Liabilities and Owners' Equity $ $ $