The post-closing trial balances of two proprietorships on January 1, 2022, are presented below. Sorensen Company Lucas Company Dr. Cr. Dr. Cr. Cash $17,000 $14,400 Accounts receivable 21,000 31,000 Allowance for doubtful accounts $3,600 $5,300 Inventory 32,000 22,100 Equipment 54,000 35,000 Accumulated depreciation-equipment 28,800 13,200 Notes payable Accounts payable Sorensen, capital Lucas, capital 21,600 18,000 26,400 37,200 43,600 28,800 $124,000 $124,000 $102,500 $102,500 Sorensen and Lucas decide to form a partnership, Blossom Company, with the following agreed upon valuations for noncash assets.