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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

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

JulieCash

$12,500

$11,300Accounts receivable

8,400

6,000Office supplies

1,900

900Office equipment

27,300

Land

28,300Accounts payable

2,200

5,500Mortgage payable

19,600

During the year, Tom withdrew $13,900 and Julie withdrew $10,900 in anticipation of operating profits. Net profit for 2016 was $51,300, which is to be allocated based on the original net capital investment.

statement of changes in partners' capital for the year ended December 31, 2016. (Round answers to 0 decimal places, e.g. 5,125. List items that increase partners' capital first.)

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