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$13,100. This represents amounts owed to Daily for legal
services Daily rendered to Associates PC. Although the Internal
Document reflects $17,382 for accounts payable, the evidence
indicates that $4,282 thereof is attributable to liabilities not
of Associates PC and is not related to the transfer of assets
from Associates PC to Hanna PC.
Hanna PC argues that the amount of Associates PC's accounts
payable is significantly greater than the $13,100 amount
determined by respondent and greater than the $17,382 listed in
the Internal Document. Hanna PC argues that Associates PC's
total accounts payable assumed by Hanna PC were in the amount of
$39,544, consisting of $13,100 owed to Daily, $22,854 owed to
other professionals for legal expenses, and $3,590 owed to Hanna
for automobile related expenses.
With regard to Hanna PC's claim that Associates PC's
accounts payable should include $22,854 for legal expenses,
Associates PC's 1996 bankruptcy petition and other documents in
the record indicate that these legal expenses did not constitute
a liability of Associates PC. No credible evidence supports
Hanna PC's claim that $3,590 in automobile-related expenses
constitutes a liability of Associates PC.
We conclude that the amount of the assets transferred by
Associates PC to Hanna PC was $97,651, that Hanna PC assumed
Associates PC's liabilities in the amount of $79,708, and that
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