Patsy Garrison owns and operates a bakery called Patsy's Pasteries. Her postclosing trial balance on December 31, 2013, is provided below. Garrison plans to enter into a partnership with Erika Noreen, effective January 1, 2014. Profits and losses will be shared equally. Garrison will transfer all assets and liabilities of her store to the partnership, after revaluation. Noreen will invest cash equal to Garrison's investment after revaluation. The agreed values are: Accounts Receivable (net), $15,000; Merchandise Inventory, $54,000; and Store Equipment, $16,000. The partnership will operate under the name Baker's Delight. Record each partner's investment on page 1 of a general journal. Omit descriptions.
Prepare a balance sheet for Baker's Delight just after the investments. 
Definitions:
Marginal Cost
The additional cost incurred from the production of one more unit of a product or service.
Total Cost
The complete cost of production that includes both fixed and variable costs.
Opportunity Cost
The best alternative that we forgo, or give up, when we make a choice or a decision.
ΔTVC/Δq
ΔTVC/Δq represents the change in Total Variable Cost (TVC) resulting from producing one additional unit of output, equivalent to Marginal Cost.
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